MQS Management LLC Takes $425,000 Position in First Industrial Realty Trust, Inc. (NYSE:FR)

MQS Management LLC bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 8,953 shares of the real estate investment trust’s stock, valued at approximately $425,000.

A number of other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd grew its holdings in shares of First Industrial Realty Trust by 23.5% during the 2nd quarter. XTX Topco Ltd now owns 13,627 shares of the real estate investment trust’s stock valued at $647,000 after purchasing an additional 2,597 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of First Industrial Realty Trust by 216.7% during the second quarter. Edgestream Partners L.P. now owns 106,331 shares of the real estate investment trust’s stock valued at $5,052,000 after buying an additional 72,757 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of First Industrial Realty Trust by 77.7% in the second quarter. Renaissance Technologies LLC now owns 143,400 shares of the real estate investment trust’s stock worth $6,813,000 after buying an additional 62,700 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of First Industrial Realty Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock valued at $96,133,000 after acquiring an additional 118,239 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in First Industrial Realty Trust by 4.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 215,455 shares of the real estate investment trust’s stock valued at $10,236,000 after acquiring an additional 9,188 shares during the period. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FR shares. BNP Paribas started coverage on First Industrial Realty Trust in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price target 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. Wolfe Research raised shares of 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. Finally, Wells Fargo & Company increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.46.

First Industrial Realty Trust Price Performance

Shares of FR opened at $56.69 on Friday. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $57.35. The firm’s 50-day simple moving average is $54.59 and its two-hundred day simple moving average is $50.84. The stock has a market cap of $7.50 billion, a PE ratio of 26.12 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share 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 company had revenue of $164.10 million during the quarter, compared to analysts’ expectations of $163.48 million. During the same quarter in the previous year, the company earned $0.61 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts anticipate 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 issued a dividend of $0.37 per share. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 2.61%. First Industrial Realty Trust’s payout ratio is presently 68.20%.

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.