UPDATE: Goldman Sachs Upgrades First Industrial Realty Trust (FR) to Neutral

March 25, 2021 2:08 AM EDT
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Price: $46.78 -0.32%

Rating Summary:
    8 Buy, 5 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 16 | New: 47
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(Updated - March 25, 2021 5:31 AM EDT)

Goldman Sachs analyst Caitlin Burrows upgraded First Industrial Realty Trust (NYSE: FR) from Sell to Neutral with a price target of $46.00 (from $44.00).

The analyst comments "We expect FR’s earnings will continue to benefit from strong demand (particularly from e-commerce growth), leading to continued pricing power and a re-acceleration in its development pipeline (following the COVID-induced pullback). We note that FR’s share price underperformance over the past 6 months, coupled with positive estimate revisions (+2.6% since 9/29/20 versus -2.0% for REITs overall, simple average), now provides the stock with a more attractive valuation relative to REITs overall."

For an analyst ratings summary and ratings history on First Industrial Realty Trust click here. For more ratings news on First Industrial Realty Trust click here.

Shares of First Industrial Realty Trust closed at $45.67 yesterday.

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