Wedbush Initiates a Hold Rating on First Industrial Realty (FR)
In a report released on September 30, Richard Anderson from Wedbush initiated coverage with a Hold rating on First Industrial Realty and a price target of $55.00. The company’s shares closed yesterday at $52.07.
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Anderson covers the Real Estate sector, focusing on stocks such as AvalonBay, Douglas Emmett, and LTC Properties. According to TipRanks, Anderson has an average return of 8.4% and a 68.31% success rate on recommended stocks.
In addition to Wedbush, First Industrial Realty also received a Hold from Barclays’s Brendan Lynch in a report issued on September 15. However, on September 29, RBC Capital maintained a Buy rating on First Industrial Realty (NYSE: FR).
Based on First Industrial Realty’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $180.16 million and a net profit of $55.15 million. In comparison, last year the company earned a revenue of $164.14 million and had a net profit of $51.32 million
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