JPMorgan Chase & Co. Has Lowered Expectations for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR) had its price target cut by stock analysts at JPMorgan Chase & Co. from $63.00 to $57.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 19.56% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group decreased their target price on First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Robert W. Baird raised their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price for the company. Barclays reaffirmed a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. Finally, Scotiabank cut their price objective on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating for the company in a research report on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Hold” and an average price target of $57.58.

First Industrial Realty Trust Stock Up 0.8 %

FR traded up $0.36 during trading on Monday, reaching $47.67. 120,249 shares of the stock traded hands, compared to its average volume of 1,118,381. The stock’s 50-day simple moving average is $52.06 and its two-hundred day simple moving average is $52.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. First Industrial Realty Trust has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 21.87 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The firm had revenue of $177.07 million during the quarter, compared to the consensus estimate of $176.98 million. As a group, equities research analysts expect that First Industrial Realty Trust will post 2.89 EPS for the current year.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. lifted its holdings in shares of First Industrial Realty Trust by 93.0% during the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 225 shares during the period. Alpine Bank Wealth Management bought a new position in First Industrial Realty Trust during the first quarter worth about $26,000. Versant Capital Management Inc boosted its holdings in First Industrial Realty Trust by 92.5% during the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 481 shares in the last quarter. UMB Bank n.a. grew its stake in shares of First Industrial Realty Trust by 24.7% in the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 214 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of First Industrial Realty Trust by 200.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 747 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

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.