First Industrial Realty Trust Inc. (FR) Stock Rating Lowered by Zacks Investment Research
First Industrial Realty Trust Inc. (NYSE:FR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “FIRST INDUSTRIAL REALTY TRUST is a self-administered and fully integrated industrial real estate company which owns, mamages, acquires and develops industrial real estste. “
Separately, Jefferies Group restated a “hold” rating on shares of First Industrial Realty Trust in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. First Industrial Realty Trust currently has a consensus rating of “Hold” and an average target price of $26.00.
First Industrial Realty Trust (NYSE:FR) opened at 25.63 on Tuesday. The firm has a market capitalization of $3.00 billion, a P/E ratio of 20.72 and a beta of 1.04. The company’s 50 day moving average price is $26.43 and its 200 day moving average price is $27.02. First Industrial Realty Trust has a 12 month low of $18.89 and a 12 month high of $29.75.
In other news, Director H Patrick Hackett, Jr. sold 9,050 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $25.76, for a total value of $233,128.00. Following the completion of the transaction, the director now directly owns 75,442 shares in the company, valued at $1,943,385.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.83% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC raised its stake in First Industrial Realty Trust by 7.8% in the third quarter. LPL Financial LLC now owns 9,207 shares of the real estate investment trust’s stock valued at $251,000 after buying an additional 665 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new stake in First Industrial Realty Trust during the third quarter valued at approximately $349,000. Ameritas Investment Partners Inc. raised its stake in First Industrial Realty Trust by 65.9% in the third quarter. Ameritas Investment Partners Inc. now owns 45,686 shares of the real estate investment trust’s stock valued at $1,289,000 after buying an additional 18,140 shares in the last quarter. Verition Fund Management LLC acquired a new stake in First Industrial Realty Trust during the third quarter valued at approximately $239,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in First Industrial Realty Trust during the third quarter valued at approximately $336,000. 99.50% of the stock is owned by institutional investors and hedge funds.
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. The Company owns approximately 590 in-service industrial properties containing approximately 63.6 million square feet of gross leasable area (GLA).
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