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

Covestor Ltd increased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 188.7% in the third quarter, HoldingsChannel reports. The firm owned 1,484 shares of the real estate investment trust’s stock after buying an additional 970 shares during the period. Covestor Ltd’s holdings in First Industrial Realty Trust were worth $83,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FR. Allspring Global Investments Holdings LLC grew its holdings in 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 worth $30,000 after purchasing an additional 200 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its position in shares of First Industrial Realty Trust by 4.8% in 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 purchasing an additional 295 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of First Industrial Realty Trust by 77.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 417 shares in the last quarter. Fortem Financial Group LLC grew its stake in First Industrial Realty Trust by 4.6% during the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 438 shares during the last quarter. Finally, UMB Bank n.a. increased its position in First Industrial Realty Trust by 116.2% during the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 466 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

FR has been the subject of several recent analyst reports. Mizuho raised their price target on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Wolfe Research raised shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their price target 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. Finally, Scotiabank lifted their price objective 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 analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.92.

First Industrial Realty Trust Trading Up 1.5 %

NYSE FR opened at $53.62 on Thursday. First Industrial Realty Trust, Inc. has a 1 year low of $43.80 and a 1 year high of $57.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick 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 fifty day moving average of $54.76 and a 200 day moving average of $51.76.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $164.01 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 2.76%. First Industrial Realty Trust’s dividend payout ratio is presently 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.