United Services Automobile Association Makes New $507,000 Investment in First Industrial Realty Trust, Inc. (NYSE:FR)

United Services Automobile Association bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,674 shares of the real estate investment trust’s stock, valued at approximately $507,000.

Other large investors have also made changes to their positions in the company. Farmers & Merchants Investments Inc. boosted its stake in First Industrial Realty Trust by 781.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after buying 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 valued at $30,000 after acquiring an additional 200 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of First Industrial Realty Trust in the first quarter valued at about $50,000. C M Bidwell & Associates Ltd. increased its position in First Industrial Realty Trust by 119.5% during the fourth 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 last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in First Industrial Realty Trust during the fourth quarter worth about $82,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

FR opened at $56.50 on Wednesday. The stock’s 50-day moving average price is $53.30 and its 200 day moving average price is $50.65. First Industrial Realty Trust, Inc. has a 12-month low of $40.44 and a 12-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 firm has a market cap of $7.48 billion, a price-to-earnings ratio of 26.04 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last posted its 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 return on equity of 10.72% and a net margin of 44.46%. The firm had revenue of $164.10 million for the quarter, compared to analyst estimates of $163.48 million. During the same period in the previous year, the company posted $0.61 EPS. First Industrial Realty Trust’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.62 earnings per share for the current 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 given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FR. Scotiabank increased their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Truist Financial raised their target price on 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. Mizuho upped their price target on 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. The Goldman Sachs Group increased their price target on First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a report on Friday, July 26th. Finally, BNP Paribas assumed coverage on First Industrial Realty Trust in a report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $56.46.

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.