Andrew Moffs' Top Picks: March 27, 2024 [BNN Bloomberg (Canada)]
First Industrial Realty Trust, Inc. (FR)
Last first industrial realty trust, inc. earnings: 4/22 05:10 pm
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US:NYSE Investor Relations:
firstindustrial.com/secondarynavigation/investors/investorhome.php
Company Research
Source: BNN Bloomberg
In the wake of a strong and broad rally across the North American publicly-traded real estate securities in the fourth quarter of 2023, pricing has been pared back year-to-date. This is in response to stronger economic data and the risk of above-trend inflation impacting the likelihood of three interest rate cuts currently modelled into the U.S. Federal Reserve's dot plot in 2024. Amidst this consolidation, REITs (real estate investment trusts) appear to be approaching a point of inflection, where market factors that have previously registered as headwinds are weighing on sector prospects are now shifting to tailwinds. First, the prospect of peak interest rates (with the pace and scale of reductions to be determined) eases upward pressure on property capitalization rates, placing a floor under property valuations. With REIT implied cap rates continuing to trade at a material spread to both appraisal and transaction values in the private market, the backdrop for convergence in prici
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FR
News
- First Industrial Realty Trust, Inc. (NYSE: FR) was downgraded by analysts at Wedbush from an "outperform" rating to a "neutral" rating. They now have a $49.00 price target on the stock, down previously from $59.00.MarketBeat
- First Industrial Realty Trust, Inc. (NYSE: FR) had its price target lowered by analysts at JPMorgan Chase & Co. from $59.00 to $53.00. They now have an "overweight" rating on the stock.MarketBeat
- First Industrial Realty Trust, Inc. (NYSE:FR) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- First Industrial: Shares Attractive Despite Softer Q1 Results [Seeking Alpha]Seeking Alpha
- First Industrial Realty Trust: Q1 Earnings Snapshot [Yahoo! Finance]Yahoo! Finance
FR
Earnings
- 4/17/24 - Miss
FR
Sec Filings
- 4/16/24 - Form DEFA14A
- 4/4/24 - Form ARS
- 4/4/24 - Form DEF
- FR's page on the SEC website