CIBC Asset Management Inc Invests $217,000 in First Industrial Realty Trust, Inc. (NYSE:FR)

CIBC Asset Management Inc acquired a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,879 shares of the real estate investment trust’s stock, valued at approximately $217,000.

Several other hedge funds have also recently bought and sold shares of FR. Allspring Global Investments Holdings LLC raised its position in shares of First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 200 shares during the period. Azzad Asset Management Inc. ADV lifted its position in First Industrial Realty Trust by 4.8% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock worth $307,000 after acquiring an additional 295 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 417 shares during the period. Fortem Financial Group LLC boosted its holdings in First Industrial Realty Trust by 4.6% during the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock valued at $469,000 after acquiring an additional 438 shares during the period. Finally, UMB Bank n.a. grew its position in shares of First Industrial Realty Trust by 116.2% in the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 466 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Up 2.0 %

FR stock opened at $53.75 on Friday. First Industrial Realty Trust, Inc. has a 1-year low of $45.02 and a 1-year high of $57.35. 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 business’s 50 day moving average is $54.35 and its 200-day moving average is $51.99. The firm has a market cap of $7.11 billion, a P/E ratio of 22.67 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly 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. The firm had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. Equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 2.75%. First Industrial Realty Trust’s dividend payout ratio is 63.52%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price for the company in a research note on Tuesday, August 13th. Barclays reduced their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Scotiabank boosted their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company increased their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, Truist Financial raised their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and an average price target of $57.83.

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.