First Industrial Realty Trust (FR) Rating Increased to Buy at Jefferies Group

First Industrial Realty Trust (NYSE:FR) was upgraded by research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a report issued on Thursday. Jefferies Group also issued estimates for First Industrial Realty Trust’s Q4 2017 earnings at $0.41 EPS, FY2018 earnings at $1.69 EPS and FY2019 earnings at $1.84 EPS.

FR has been the topic of several other research reports. Stifel Nicolaus lifted their price objective on First Industrial Realty Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, November 6th. KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a report on Tuesday, October 24th. ValuEngine downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday. Janney Montgomery Scott began coverage on First Industrial Realty Trust in a report on Friday, September 29th. They set a “buy” rating and a $34.00 price target on the stock. Finally, SunTrust Banks restated a “buy” rating and set a $32.00 price target on shares of First Industrial Realty Trust in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.86.

Shares of First Industrial Realty Trust (FR) opened at $31.12 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. First Industrial Realty Trust has a 52 week low of $25.31 and a 52 week high of $32.91. The stock has a market capitalization of $3,698.48, a PE ratio of 29.08 and a beta of 1.02.

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 the Thomson Reuters’ consensus estimate of $0.16 by $0.25. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share. sell-side analysts forecast that First Industrial Realty Trust will post 1.56 EPS for the current year.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,854 shares of First Industrial Realty Trust stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $32.42, for a total transaction of $546,406.68. Following the sale, the director now directly owns 866,966 shares of the company’s stock, valued at approximately $28,107,037.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce W. Duncan sold 16,855 shares of First Industrial Realty Trust 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. In the last 90 days, insiders have sold 50,564 shares of company stock worth $1,601,193. 1.71% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of FR. IFP Advisors Inc boosted its position in First Industrial Realty Trust by 5.2% during the 2nd quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 190 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in First Industrial Realty Trust by 10.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,384,869 shares of the real estate investment trust’s stock valued at $39,635,000 after acquiring an additional 128,673 shares in the last quarter. Arizona State Retirement System boosted its position in First Industrial Realty Trust by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 49,400 shares of the real estate investment trust’s stock valued at $1,414,000 after acquiring an additional 600 shares in the last quarter. First Mercantile Trust Co. boosted its position in First Industrial Realty Trust by 1.8% during the 2nd quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 70 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in First Industrial Realty Trust by 1.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 37,353 shares of the real estate investment trust’s stock valued at $1,069,000 after acquiring an additional 565 shares in the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

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First Industrial Realty Trust Company Profile

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.

Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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