Covestor Ltd Increases Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Covestor Ltd lifted its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 188.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,484 shares of the real estate investment trust’s stock after buying an additional 970 shares during the quarter. Covestor Ltd’s holdings in First Industrial Realty Trust were worth $83,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FR. Vanguard Group Inc. raised its holdings in shares of First Industrial Realty Trust by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock worth $1,008,284,000 after acquiring an additional 77,270 shares in the last quarter. Centersquare Investment Management LLC lifted its position in First Industrial Realty Trust by 8.4% during the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after purchasing an additional 380,805 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of First Industrial Realty Trust by 7.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock worth $103,465,000 after buying an additional 148,996 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of First Industrial Realty Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock worth $96,133,000 after buying an additional 118,239 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of First Industrial Realty Trust by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,315 shares of the real estate investment trust’s stock valued at $62,776,000 after buying an additional 11,522 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $53.62 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $7.10 billion, a PE ratio of 23.01 and a beta of 1.08. The company has a 50 day moving average price of $54.76 and a 200-day moving average price of $51.76. First Industrial Realty Trust, Inc. has a fifty-two week low of $43.80 and a fifty-two week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The business had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. During the same period in the previous year, the company posted $0.62 EPS. First Industrial Realty Trust’s revenue was up 8.1% on a year-over-year basis. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research note on Tuesday, August 13th. Royal Bank of Canada increased their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. The Goldman Sachs Group lifted their price objective 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. Barclays increased their target price on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Scotiabank lifted their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.92.

First Industrial Realty Trust 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.