Shares of First Industrial Realty Trust Inc. (NYSE:FR) traded today at $55.21, eclipsing its 52-week high. Approximately 162,000 shares have changed hands today, as compared to an average 30-day volume of 1.1 million shares.
First Industrial Realty Trust Inc. share prices have moved between a 52-week high of $55.21 and a 52-week low of $38.74 and are now trading 42% above that low price at $55.06 per share.
First Industrial Realty Trust is a real estate investment trust engaged in acquiring, owning, and managing industrial real estate throughout the U.S. First Industrial’s real estate portfolio is primarily comprised of light industrial properties, which are split between industrial and office space, and bulk warehouse properties generally located in business parks near transportation hubs. While light industrial buildings represent the largest share of First Industrial’s holdings, bulk warehouses make up most of its portfolio’s square footage. The company derives the vast majority of its revenue from rental income tied to medium-term leases. First Industrial’s customers include manufacturing, retail, wholesale trade, distribution, and professional services companies.
First Industrial Realty Trust Inc. (NYSE:FR) defies analysts with a current price ($55.06) 10.5% above its average consensus price target of $49.27.
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