Stifel Nicolaus Boosts First Industrial Realty Trust, Inc. (FR) Price Target to $34.00

First Industrial Realty Trust, Inc. (NYSE:FR) had its target price upped by equities research analysts at Stifel Nicolaus from $33.00 to $34.00 in a research report issued to clients and investors on Monday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price objective points to a potential upside of 7.77% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Jefferies Group LLC reiterated a “neutral” rating on shares of First Industrial Realty Trust in a report on Tuesday, September 26th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $32.00 target price on shares of First Industrial Realty Trust in a report on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a report on Friday, August 25th. Janney Montgomery Scott assumed coverage on First Industrial Realty Trust in a report on Friday, September 29th. They set a “buy” rating and a $34.00 target price on the stock. Finally, Zacks Investment Research upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. First Industrial Realty Trust has a consensus rating of “Hold” and a consensus price target of $31.33.

Shares of First Industrial Realty Trust (FR) opened at $31.55 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. First Industrial Realty Trust has a 52 week low of $24.85 and a 52 week high of $31.83. The stock has a market capitalization of $3,781.17, a PE ratio of 20.49 and a beta of 1.01.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.25. The company had revenue of $99.30 million for the quarter, compared to the consensus estimate of $98.38 million. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.37 EPS. equities analysts predict that First Industrial Realty Trust will post 1.55 earnings per share for the current year.

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In related news, EVP David Harker sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $30.45, for a total transaction of $609,000.00. Following the completion of the transaction, the executive vice president now owns 118,470 shares in the company, valued at approximately $3,607,411.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $30.85, for a total value of $519,976.75. The disclosure for this sale can be found here. Insiders have sold a total of 53,710 shares of company stock valued at $1,659,909 in the last 90 days. Insiders own 1.71% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in First Industrial Realty Trust by 2.9% during the 2nd quarter. State Street Corp now owns 5,558,921 shares of the real estate investment trust’s stock valued at $159,093,000 after acquiring an additional 154,676 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of First Industrial Realty Trust by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 4,449,105 shares of the real estate investment trust’s stock worth $133,874,000 after buying an additional 150,162 shares in the last quarter. Northern Trust Corp raised its stake in shares of First Industrial Realty Trust by 3.5% in the 2nd quarter. Northern Trust Corp now owns 3,322,800 shares of the real estate investment trust’s stock worth $95,098,000 after buying an additional 112,948 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of First Industrial Realty Trust by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,668,832 shares of the real estate investment trust’s stock worth $47,762,000 after buying an additional 56,330 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of First Industrial Realty Trust by 17.3% in the 2nd quarter. Prudential Financial Inc. now owns 1,531,040 shares of the real estate investment trust’s stock worth $43,818,000 after buying an additional 225,621 shares in the last quarter. 92.07% of the stock is currently owned by hedge funds and other institutional investors.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

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