Point72 Asia Singapore Pte. Ltd. Takes Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,064 shares of the real estate investment trust’s stock, valued at approximately $98,000.

Several other institutional investors also recently made changes to their positions in FR. State of Tennessee Treasury Department grew its stake in shares of First Industrial Realty Trust by 733.4% during the 4th quarter. State of Tennessee Treasury Department now owns 208,345 shares of the real estate investment trust’s stock valued at $10,974,000 after buying an additional 183,345 shares during the period. HGI Capital Management LLC raised its position in First Industrial Realty Trust by 89.8% in the fourth quarter. HGI Capital Management LLC now owns 80,265 shares of the real estate investment trust’s stock valued at $4,228,000 after purchasing an additional 37,976 shares during the period. Lighthouse Investment Partners LLC acquired a new position in shares of First Industrial Realty Trust during the fourth quarter worth about $11,851,000. Balyasny Asset Management L.P. lifted its stake in shares of First Industrial Realty Trust by 73.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 743,552 shares of the real estate investment trust’s stock worth $39,163,000 after purchasing an additional 314,583 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its position in shares of First Industrial Realty Trust by 28.2% in the fourth quarter. Nebula Research & Development LLC now owns 24,614 shares of the real estate investment trust’s stock worth $1,296,000 after buying an additional 5,409 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $54.77 on Friday. First Industrial Realty Trust, Inc. has a twelve month low of $40.44 and a twelve month high of $57.35. 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 company has a 50-day moving average of $55.24 and a 200-day moving average of $51.05. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 25.24 and a beta of 1.08.

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

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 68.20%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FR shares. 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. Wells Fargo & Company raised their price objective 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. 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. Truist Financial increased 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 report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased 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 report on Wednesday, July 31st. Two research 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, First Industrial Realty Trust currently has a consensus rating of “Hold” and an average 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.