Los Angeles Capital Management LLC Acquires Shares of 5,595 First Industrial Realty Trust, Inc. (NYSE:FR)

Los Angeles Capital Management LLC acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,595 shares of the real estate investment trust’s stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FR. V Square Quantitative Management LLC purchased a new stake in shares of First Industrial Realty Trust in the third quarter worth about $28,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 200 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of First Industrial Realty Trust by 116.2% in the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 466 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of First Industrial Realty Trust by 201.9% in the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 636 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of First Industrial Realty Trust by 77.4% in the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 417 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $52.44 on Monday. The stock has a fifty day moving average of $54.61 and a 200 day moving average of $51.85. First Industrial Realty Trust, Inc. has a 52 week low of $44.35 and a 52 week high of $57.35. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 22.51 and a beta of 1.08. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. During the same quarter last year, the firm posted $0.62 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, research analysts expect that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.82%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is currently 63.52%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FR. Wells Fargo & Company raised their target price on shares of 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. The Goldman Sachs Group raised their target price 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. Royal Bank of Canada raised 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. Truist Financial raised their target price on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Mizuho raised their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and an average price target of $57.92.

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.