First Industrial Realty Trust (NYSE:FR) Sees Unusually-High Trading Volume on Strong Earnings

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) saw an uptick in trading volume on Thursday after the company announced better than expected quarterly earnings. 1,087,115 shares changed hands during trading, an increase of 21% from the previous session’s volume of 895,561 shares.The stock last traded at $55.05 and had previously closed at $53.80.

The real estate investment trust reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be issued a dividend of $0.445 per share. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.23%. First Industrial Realty Trust’s dividend payout ratio is 63.52%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FR shares. Barclays reduced their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. Finally, KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.38.

Hedge Funds Weigh In On First Industrial Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rush Island Management LP bought a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at $60,848,000. JPMorgan Chase & Co. lifted its holdings in shares of First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after buying an additional 747,101 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of First Industrial Realty Trust by 290.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock worth $50,105,000 after purchasing an additional 665,920 shares in the last quarter. Zimmer Partners LP purchased a new stake in shares of First Industrial Realty Trust in the 3rd quarter worth $18,649,000. Finally, NFJ Investment Group LLC purchased a new stake in shares of First Industrial Realty Trust in the 3rd quarter worth $7,778,000. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Price Performance

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $7.30 billion, a PE ratio of 23.66 and a beta of 1.09. The firm has a 50 day moving average price of $51.56 and a 200 day moving average price of $53.49.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.