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Wells Fargo analyst Blaine Heck lowered the firm’s price target on First Industrial Realty (FR) to $57 from $61 and keeps an Equal Weight rating on the shares. The firm notes Q3 is on a good path through Week 2. Wells is most encouraged by Datacenters, Healthcare, Mfg Housing and Retail. However, it notes investor discussions this week focused more on macro: can REITs work if 10-year yield rises from here; playbook for Republican sweep or Harris/gridlock; conservative 2025 guidance disappointment risk; defensive position in Resi over near term, and timing sector bottoms.

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• First Industrial Realty reports Q3 EPS 68c, consensus 67c

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• First Industrial Realty price target raised to $61 from $50 at Wells Fargo