Evergreen Capital Management LLC Invests $253,000 in First Industrial Realty Trust, Inc. (NYSE:FR)

Evergreen Capital Management LLC acquired a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 5,277 shares of the real estate investment trust’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after acquiring 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% during the second 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. Fortem Financial Group LLC grew its holdings in shares of First Industrial Realty Trust by 4.6% in the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock valued at $469,000 after buying an additional 438 shares during the period. Farmers & Merchants Investments Inc. increased its position in shares of First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 469 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in First Industrial Realty Trust by 8.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 6,607 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 517 shares during the period. 99.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Royal Bank of Canada raised their target price on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BNP Paribas began coverage on shares of First Industrial Realty Trust in a report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price objective on the stock. Finally, Truist Financial upped their target price on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.46.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $56.04 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $40.44 and a 52-week high of $57.35. The company has a market cap of $7.42 billion, a P/E ratio of 25.82 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s 50-day simple moving average is $55.02 and its 200 day simple moving average is $50.94.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The company had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. As a group, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

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.