Nisa Investment Advisors LLC Has $2.13 Million Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Nisa Investment Advisors LLC reduced its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,541 shares of the real estate investment trust’s stock after selling 410 shares during the quarter. Nisa Investment Advisors LLC’s holdings in First Industrial Realty Trust were worth $2,133,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Centersquare Investment Management LLC lifted its position in shares of First Industrial Realty Trust by 8.4% in the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock worth $259,143,000 after purchasing an additional 380,805 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in First Industrial Realty Trust by 66.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 41,720 shares of the real estate investment trust’s stock worth $2,197,000 after buying an additional 16,652 shares in the last quarter. Cibc World Markets Corp purchased a new stake in First Industrial Realty Trust in the 4th quarter worth approximately $11,808,000. Frontier Capital Management Co. LLC boosted its stake in shares of First Industrial Realty Trust by 788.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock valued at $65,598,000 after buying an additional 1,105,286 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new position in shares of First Industrial Realty Trust during the 2nd quarter valued at $2,824,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FR has been the subject of several recent research reports. Truist Financial increased their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target for the company in a report on Tuesday, August 13th. Wedbush cut First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $59.00 to $49.00 in a research note on Thursday, April 25th. BNP Paribas began coverage on shares of First Industrial Realty Trust in a research report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price objective on the stock. Finally, Royal Bank of Canada lifted 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.50.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $54.51 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The firm has a fifty day simple moving average of $50.97 and a 200-day simple moving average of $50.42. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 25.12 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 1-year low of $40.44 and a 1-year high of $55.92.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The firm had revenue of $164.10 million for the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. On average, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.61 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 68.20%.

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.