First Industrial Realty Trust, Inc. (NYSE:FR) Short Interest Up 8.9% in September

First Industrial Realty Trust, Inc. (NYSE:FR) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,950,000 shares, a growth of 8.9% from the August 31st total of 1,790,000 shares. Based on an average daily volume of 1,020,000 shares, the short-interest ratio is currently 1.9 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Centersquare Investment Management LLC lifted its holdings in shares of First Industrial Realty Trust by 8.4% during the 1st quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock worth $259,143,000 after acquiring an additional 380,805 shares during the period. Campbell & CO Investment Adviser LLC raised its holdings in shares of First Industrial Realty Trust by 66.4% during 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 bought a new stake in shares of First Industrial Realty Trust during the 4th quarter worth $11,808,000. Frontier Capital Management Co. LLC grew its position in First Industrial Realty Trust by 788.5% in the fourth 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 acquiring an additional 1,105,286 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in First Industrial Realty Trust during the second quarter worth about $2,824,000. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

Shares of FR stock traded down $0.87 on Tuesday, reaching $55.11. The stock had a trading volume of 712,608 shares, compared to its average volume of 1,073,422. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average is $55.11 and its two-hundred day moving average is $50.96. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 25.40 and a beta of 1.08. First Industrial Realty Trust has a 12 month low of $40.44 and a 12 month high of $57.35.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results 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 firm had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. On average, research analysts expect that First Industrial Realty Trust will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business 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. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 2.69%. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Wall Street Analyst Weigh In

FR has been the subject of several recent research reports. Wolfe Research upgraded shares of 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 report on Tuesday, August 13th. Scotiabank upped their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. upped their target price 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. Truist Financial upped their price objective on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Mizuho upped their price objective on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.46.

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.