Worth Watching: Is First Industrial Realty Trust, Inc. a Sell? The Stock Declines Again

Worth Watching: Is First Industrial Realty Trust, Inc. a Sell? The Stock Declines Again

The stock of First Industrial Realty Trust, Inc. (NYSE:FR) is a huge mover today! The stock decreased 3.46% or $0.94 on October 5, hitting $26.23. First Industrial Realty Trust, Inc. (NYSE:FR) has risen 23.89% since March 2, 2016 and is uptrending. It has outperformed by 15.64% the S&P500.
The move comes after 7 months negative chart setup for the $3.07 billion company. It was reported on Oct, 5 by Barchart.com. We have $24.13 PT which if reached, will make NYSE:FR worth $245.60M less.

Analysts await First Industrial Realty Trust, Inc. (NYSE:FR) to report earnings on October, 26. They expect $0.37 earnings per share, up 5.71% or $0.02 from last year’s $0.35 per share. FR’s profit will be $43.31M for 17.72 P/E if the $0.37 EPS becomes a reality. After $0.36 actual earnings per share reported by First Industrial Realty Trust, Inc. for the previous quarter, Wall Street now forecasts 2.78% EPS growth.

First Industrial Realty Trust, Inc. (NYSE:FR) Ratings Coverage

Out of 5 analysts covering First Ind. Rlty (NYSE:FR), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. First Ind. Rlty has been the topic of 8 analyst reports since September 3, 2015 according to StockzIntelligence Inc. Credit Suisse reinitiated First Industrial Realty Trust, Inc. (NYSE:FR) on Wednesday, March 16 with “Outperform” rating. The firm earned “Hold” rating on Wednesday, June 1 by Jefferies. On Monday, November 2 the stock rating was maintained by Stifel Nicolaus with “Buy”. Stifel Nicolaus maintained First Industrial Realty Trust, Inc. (NYSE:FR) on Tuesday, May 3 with “Buy” rating. Raymond James upgraded First Industrial Realty Trust, Inc. (NYSE:FR) on Thursday, September 3 to “Outperform” rating. The rating was initiated by Jefferies on Friday, January 22 with “Buy”.

According to Zacks Investment Research, “FIRST INDUSTRIAL REALTY TRUST is a self-administered and fully integrated industrial real estate company which owns, mamages, acquires and develops industrial real estste.”

Insitutional Activity: The institutional sentiment decreased to 1.16 in 2016 Q2. Its down 0.34, from 1.5 in 2016Q1. The ratio dived, as 28 funds sold all First Industrial Realty Trust, Inc. shares owned while 60 reduced positions. 25 funds bought stakes while 77 increased positions. They now own 111.50 million shares or 1.29% less from 112.96 million shares in 2016Q1.
Enterprise Fincl Svcs holds 105 shares or 0% of its portfolio. Amalgamated State Bank has invested 0.02% of its portfolio in First Industrial Realty Trust, Inc. (NYSE:FR). Parametric Associates Ltd Com has 0.01% invested in the company for 277,778 shares. California State Teachers Retirement System has 243,963 shares for 0.01% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 5,424 shares. Suntrust Banks Inc has invested 0% of its portfolio in First Industrial Realty Trust, Inc. (NYSE:FR). Alliancebernstein Lp reported 277,431 shares or 0.01% of all its holdings. Kanaly Tru Commerce owns 171 shares or 0% of their US portfolio. Moreover, Us Financial Bank De has 0.01% invested in First Industrial Realty Trust, Inc. (NYSE:FR) for 64,596 shares. Great West Life Assurance Can accumulated 10,060 shares or 0% of the stock. Quadrant Cap Mgmt Limited Liability Corp has 45,067 shares for 1.06% of their US portfolio. Goodwin Daniel L last reported 14,000 shares in the company. The Washington-based Freestone Ltd Llc has invested 0.07% in First Industrial Realty Trust, Inc. (NYSE:FR). Moreover, Prudential Fincl has 0% invested in First Industrial Realty Trust, Inc. (NYSE:FR) for 88,808 shares. Cipher L P holds 0.21% of its portfolio in First Industrial Realty Trust, Inc. (NYSE:FR) for 106,467 shares.

Insider Transactions: Since August 5, 2016, the stock had 0 insider buys, and 3 selling transactions for $1.90 million net activity. The insider MUSIL SCOTT A sold $435,300. Another trade for 15,436 shares valued at $449,188 was made by Schultz Peter on Friday, August 5. 35,000 First Industrial Realty Trust, Inc. (NYSE:FR) shares with value of $1.02M were sold by YAP JOHANNSON L.

More recent First Industrial Realty Trust, Inc. (NYSE:FR) news were published by: Seekingalpha.com which released: “First Industrial Realty Trust, Inc. (FR) CEO Bruce Duncan on Q2 2016 Results …” on July 29, 2016. Also Prnewswire.com published the news titled: “First Industrial Names Peter E. Baccile President, Assumes CEO Position …” on August 02, 2016. Prnewswire.com‘s news article titled: “First Industrial Realty Trust CEO Bruce Duncan to Retire By Year-end …” with publication date: January 20, 2016 was also an interesting one.

FR Company Profile

First Industrial Realty Trust, Inc., incorporated on August 10, 1993, 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 Firm owns approximately 590 in-service industrial properties containing approximately 63.6 million square feet of gross leasable area (GLA). The Company’s in-services portfolio consists of over 230 light industrial properties; approximately 80 research and development (R&D)/flex properties; approximately 170 bulk warehouse properties, and over 100 regional warehouse properties located in over 20 states. The Company’s in-service portfolio includes all properties other than developed, redeveloped and acquired properties that have not yet reached stabilized occupancy.

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