FR - Why First Industrial Realty Shares Are Sliding Today | Benzinga
KeyBanc Capital Market analyst Todd M. Thomas downgraded First Industrial Realty Trust, Inc. (NYSE: FR) to Underweight from Sector Weight with a price target of $42.
The analyst sees risk to FY24 FFO estimates due to longer leasing timelines for new development projects, which could curb future growth outlook vs. its peers.
The analyst notes that about $346 million of development is expected to be placed in service in the next four quarters, with minimal pre-leasing completed ...