Baird lowered the firm’s price target on First Industrial Realty to $56 from $62 and keeps an Outperform rating on the shares. The firm said while the broader sector re-rates on more normalized demand trends and continued interest rate volatility, the copany was able to execute on the development leasing front and remove any potential overhang from larger development vacancies in the near future. Baird said First Industrial Realty remains its top pick in the industrial space.
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