Bamco Inc. NY Purchases 44,657 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Bamco Inc. NY raised its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 95.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,396 shares of the real estate investment trust’s stock after acquiring an additional 44,657 shares during the period. Bamco Inc. NY owned approximately 0.07% of First Industrial Realty Trust worth $5,116,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in 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 purchasing an additional 200 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of First Industrial Realty Trust by 4.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 295 shares during the period. Farther Finance Advisors LLC grew its position in First Industrial Realty Trust by 77.4% during 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. Fortem Financial Group LLC increased its stake in First Industrial Realty Trust by 4.6% during the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock valued at $469,000 after acquiring an additional 438 shares during the period. Finally, UMB Bank n.a. raised its holdings in First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 466 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FR has been the topic of several recent research reports. Barclays decreased their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Scotiabank upped their price objective on 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. Wells Fargo & Company increased their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Mizuho boosted 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. Finally, Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.83.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $52.76 on Wednesday. The stock has a 50-day simple moving average of $53.95 and a 200 day simple moving average of $52.38. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 22.64 and a beta of 1.07. 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, Inc. has a 12-month low of $45.10 and a 12-month high of $57.35.

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

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.81%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 63.52%.

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.