First Industrial Realty Trust Inc. (NYSE:FR) finished Friday with an addition of $0.29 to close at $51.25, an upside of 0.57 percent. An average of 551,120 shares of common stock have been traded in the last five days. There was a fall of -$0.05 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 997,290 shares traded, while the 50-day average volume stands at 917,080.
FR stock has decreased by -6.58% in the last month. The company shares reached their 1-month lowest point of $50.34 on 08/03/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $42.91 and a high of $55.88 in 52 weeks. It has reached a new high 12 times so far this year and achieved 6.20% or $2.99 in price. In spite of this, the price is down -8.29% from the 52-week high.
Insider Transactions
FR stock investors should be aware that First Industrial Realty Trust Inc. (FR) stock had its last reported insider trading activity 106 days ago on Apr 28.
Valuation Metrics
First Industrial Realty Trust Inc. (FR) has a trailing price-to-earnings (P/E) ratio of 21.43. The stock’s beta is 0.99. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 11.58, the price-to-book (PB) ratio at 2.72.
Financial Health
Further, the company has a long term debt to equity ratio of 0.88 and a total debt to equity ratio of 0.88 for the quarter ending June 29. Its gross profit as reported stood at $213.97 million compared to revenue of $539.93 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, First Industrial Realty Trust Inc.’s return on assets was 6.40%.
Earnings Surprise
For the three-month period that ended June 29, First Industrial Realty Trust Inc. had $10.14 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $54.64 million in the quarter, while revenues of $55.97 million were shrunk -114.11%. The analyst consensus anticipated First Industrial Realty Trust Inc.’s latest quarter earnings to come in at $0.28 per share, but it turned out to be $0.41, a 46.40% surprise. For the quarter, EBITDA amounted to $103.2 million. At the end of the quarter ending June 29, First Industrial Realty Trust Inc.’s stock balance sheet showed total debt was $2.2 billion. Shareholders own equity worth $132.25 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at First Industrial Realty Trust Inc. (FR) price momentum. RSI 9-day as of the close on 11 August was 40.73%, suggesting the stock is Neutral, with historical volatility in this time frame at 16.17%.
As of today, FR’s price is $51.23 -0.10% or -$0.05 from its 5-day moving average. FR is currently trading -6.50% lower than its 20-day SMA and -0.85% lower than its 100-day SMA. However, the stock’s current price level is -1.40% below the SMA50 and +15.09% above the SMA200.
The stochastic %K and %D were 21.50% and 22.85%, respectively, and the average true range (ATR) was 0.95. With the 14-day stochastic at 25.63% and the average true range at 0.99, the RSI (14) stands at 42.44%. The stock has reached -0.22 on the 9-day MACD Oscillator while the 14-day reading was at -0.59.
Analyst Ratings
Citigroup launched coverage on First Industrial Realty Trust Inc. (NYSE: FR) in its analyst report released on July 19, 2023. The firm assigned the stock a Neutral rating. The consensus rating for First Industrial Realty Trust Inc. (FR) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell FR, while 5 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 5 others rate it as a “buy”.
What is FR’s price target for the next 12 months?
Analysts predict a range of price targets between $47.00 and $65.00, with a median target of $60.00. Taking a look at these predictions, the average price target given by analysts for First Industrial Realty Trust Inc. (FR) stock is $58.73.
