First Industrial Realty Trust (NYSE:FR) Upgraded at The Goldman Sachs Group

First Industrial Realty Trust (NYSE:FR) was upgraded by research analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a report issued on Friday, Marketbeat reports. The firm currently has a $59.00 target price on the real estate investment trust’s stock, up from their prior target price of $52.00. The Goldman Sachs Group’s price objective suggests a potential upside of 5.94% from the company’s previous close.

A number of other research firms have also commented on FR. Barclays decreased their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Robert W. Baird raised their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. Finally, KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.31.

First Industrial Realty Trust Stock Down 0.1 %

FR opened at $55.69 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The firm has a market cap of $7.37 billion, a P/E ratio of 25.55 and a beta of 1.09. First Industrial Realty Trust has a 52 week low of $45.10 and a 52 week high of $57.35. The business’s fifty day simple moving average is $52.26 and its 200 day simple moving average is $53.64.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, equities research analysts anticipate that First Industrial Realty Trust will post 2.89 EPS for the current fiscal year.

Hedge Funds Weigh In On First Industrial Realty Trust

Large investors have recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of First Industrial Realty Trust by 80.2% during the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock valued at $214,401,000 after buying an additional 1,903,164 shares during the period. Norges Bank purchased a new stake in shares of First Industrial Realty Trust during the 4th quarter valued at about $90,489,000. Rush Island Management LP purchased a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at about $60,848,000. JPMorgan Chase & Co. raised its holdings in shares of First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after buying an additional 747,101 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of First Industrial Realty Trust by 56.1% during the 4th quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust’s stock valued at $94,176,000 after buying an additional 675,306 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.