First Industrial Realty Trust, Inc. (NYSE:FR) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,329 shares of the real estate investment trust’s stock after purchasing an additional 828 shares during the period. QRG Capital Management Inc.’s holdings in First Industrial Realty Trust were worth $690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Land & Buildings Investment Management LLC grew its holdings in shares of First Industrial Realty Trust by 256.4% during the second quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust’s stock worth $38,398,000 after buying an additional 581,472 shares in the last quarter. Russell Investments Group Ltd. lifted its position in First Industrial Realty Trust by 328.4% during the first quarter. Russell Investments Group Ltd. now owns 750,189 shares of the real estate investment trust’s stock valued at $39,413,000 after buying an additional 575,057 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in First Industrial Realty Trust during the second quarter valued at approximately $23,755,000. Bank of Montreal Can lifted its position in shares of First Industrial Realty Trust by 442.8% during the second quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust’s stock worth $26,570,000 after purchasing an additional 456,124 shares in the last quarter. Finally, BROOKFIELD Corp ON lifted its position in shares of First Industrial Realty Trust by 479.8% during the first quarter. BROOKFIELD Corp ON now owns 486,178 shares of the real estate investment trust’s stock worth $25,544,000 after purchasing an additional 402,331 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FR shares. The Goldman Sachs Group lifted their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. Royal Bank of Canada boosted their target price on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Mizuho upped their price target on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Finally, Barclays upped their price objective on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $57.92.

First Industrial Realty Trust Price Performance

FR stock opened at $53.55 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a one year low of $42.38 and a one year high of $57.35. The firm has a market capitalization of $7.09 billion, a PE ratio of 22.98 and a beta of 1.08. The firm has a 50-day moving average of $54.97 and a two-hundred day moving average of $51.61.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 earnings per share. On average, analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.76%. First Industrial Realty Trust’s dividend payout ratio is 63.52%.

About First Industrial Realty Trust

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.