Algert Global LLC Boosts Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Algert Global LLC raised its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 8.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 164,047 shares of the real estate investment trust’s stock after purchasing an additional 13,329 shares during the quarter. Algert Global LLC’s holdings in First Industrial Realty Trust were worth $7,794,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Farmers & Merchants Investments Inc. raised its position in shares of First Industrial Realty Trust by 781.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 469 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of First Industrial Realty Trust by 46.4% during the 2nd 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 period. Mather Group LLC. purchased a new position in shares of First Industrial Realty Trust during the 1st quarter worth approximately $50,000. C M Bidwell & Associates Ltd. boosted its position in shares of First Industrial Realty Trust by 119.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 shares during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in First Industrial Realty Trust in the 4th quarter valued at approximately $82,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FR shares. JPMorgan Chase & Co. raised 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 research report on Wednesday, July 31st. 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. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a research note on Tuesday, August 13th. The Goldman Sachs Group lifted their price objective on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Friday, July 26th. 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 report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.46.

First Industrial Realty Trust Stock Up 1.0 %

FR stock opened at $56.04 on Friday. The company has a market cap of $7.42 billion, a P/E ratio of 25.82 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 52 week low of $40.44 and a 52 week high of $57.35. The company’s 50-day moving average price is $55.08 and its 200 day moving average price is $50.96. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

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

First Industrial Realty Trust Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 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.