ValuEngine Downgrades First Industrial Realty Trust (FR) to Hold

First Industrial Realty Trust (NYSE:FR) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday, December 20th.

Other research analysts have also issued research reports about the stock. Janney Montgomery Scott started coverage on shares of First Industrial Realty Trust in a report on Friday, September 29th. They set a “buy” rating and a $34.00 price target for the company. SunTrust Banks reiterated a “buy” rating and issued a $34.00 price objective on shares of First Industrial Realty Trust in a research note on Friday, November 10th. Stifel Nicolaus lifted their price objective on shares of First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Jefferies Group reiterated a “hold” rating and issued a $34.00 price objective on shares of First Industrial Realty Trust in a research note on Friday, November 24th. Finally, KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. First Industrial Realty Trust has a consensus rating of “Hold” and an average target price of $32.29.

First Industrial Realty Trust (FR) traded down $0.17 during trading on Wednesday, reaching $29.84. 649,498 shares of the company’s stock traded hands, compared to its average volume of 708,125. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. First Industrial Realty Trust has a 52-week low of $25.31 and a 52-week high of $32.91. The company has a market cap of $3,600.00, a price-to-earnings ratio of 27.89 and a beta of 1.03.

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

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $31.73, for a total transaction of $534,809.15. Following the completion of the sale, the director now owns 883,820 shares in the company, valued at approximately $28,043,608.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce W. Duncan sold 16,854 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $32.42, for a total transaction of $546,406.68. Following the sale, the director now owns 866,966 shares of the company’s stock, valued at approximately $28,107,037.72. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its holdings 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 worth $159,093,000 after acquiring an additional 154,676 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in First Industrial Realty Trust by 3.5% during 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 acquiring an additional 150,162 shares during the last quarter. Northern Trust Corp boosted its holdings in First Industrial Realty Trust by 3.5% during 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 acquiring an additional 112,948 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in First Industrial Realty Trust by 2.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,244,687 shares of the real estate investment trust’s stock worth $97,632,000 after acquiring an additional 83,863 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in First Industrial Realty Trust by 5.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,342,014 shares of the real estate investment trust’s stock worth $70,473,000 after acquiring an additional 114,605 shares during the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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