Vident Investment Advisory LLC Acquires 486 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Vident Investment Advisory LLC raised its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 19,898 shares of the real estate investment trust’s stock after buying an additional 486 shares during the period. Vident Investment Advisory LLC’s holdings in First Industrial Realty Trust were worth $1,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FR. Blackstone Group Inc. bought a new position in shares of First Industrial Realty Trust during the 1st quarter worth approximately $276,961,000. Principal Financial Group Inc. grew its stake in shares of First Industrial Realty Trust by 50.5% in the second quarter. Principal Financial Group Inc. now owns 9,272,033 shares of the real estate investment trust’s stock valued at $484,278,000 after buying an additional 3,113,097 shares in the last quarter. Eaton Vance Management grew its stake in shares of First Industrial Realty Trust by 804.6% in the first quarter. Eaton Vance Management now owns 400,497 shares of the real estate investment trust’s stock valued at $18,338,000 after buying an additional 356,225 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of First Industrial Realty Trust by 18.5% in the first quarter. Geode Capital Management LLC now owns 2,194,393 shares of the real estate investment trust’s stock valued at $100,481,000 after buying an additional 342,504 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of First Industrial Realty Trust by 27.9% in the second quarter. Baillie Gifford & Co. now owns 1,339,321 shares of the real estate investment trust’s stock valued at $69,952,000 after buying an additional 291,809 shares in the last quarter. 97.37% of the stock is owned by institutional investors.

Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, September 29th. Truist Securities raised their target price on shares of First Industrial Realty Trust from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Saturday, July 31st. Royal Bank of Canada raised their target price on shares of First Industrial Realty Trust from $58.00 to $63.00 and gave the company an “outperform” rating in a research note on Tuesday, August 3rd. Truist lifted their price objective on shares of First Industrial Realty Trust from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. Finally, Mizuho reaffirmed a “buy” rating and set a $54.00 price objective on shares of First Industrial Realty Trust in a research report on Wednesday, July 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Buy” and an average target price of $52.50.

FR opened at $55.75 on Thursday. First Industrial Realty Trust, Inc. has a fifty-two week low of $39.24 and a fifty-two week high of $56.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $7.20 billion, a P/E ratio of 30.80 and a beta of 0.87. The stock has a fifty day moving average of $54.51 and a 200-day moving average of $52.31.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Tuesday, July 20th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.07). First Industrial Realty Trust had a return on equity of 11.96% and a net margin of 50.60%. The firm had revenue of $117.40 million for the quarter, compared to analyst estimates of $115.71 million. During the same period in the prior year, the business posted $0.46 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts predict that First Industrial Realty Trust, Inc. will post 1.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 18th. Stockholders of record on Thursday, September 30th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Wednesday, September 29th. First Industrial Realty Trust’s dividend payout ratio is currently 58.70%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc operates as a real estate investment trust. It engages in the ownership, management, acquisition, sale, development and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties.

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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