Quarry LP Purchases 625 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Quarry LP raised its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 30.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,654 shares of the real estate investment trust’s stock after buying an additional 625 shares during the quarter. Quarry LP’s holdings in First Industrial Realty Trust were worth $126,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Centersquare Investment Management LLC grew its holdings in First Industrial Realty Trust by 8.4% during the 1st quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after buying an additional 380,805 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of First Industrial Realty Trust during the fourth quarter worth about $11,808,000. Frontier Capital Management Co. LLC grew its holdings in shares of First Industrial Realty Trust by 788.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after purchasing an additional 1,105,286 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of First Industrial Realty Trust during the second quarter worth about $2,824,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of First Industrial Realty Trust by 32.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock worth $4,567,000 after purchasing an additional 21,767 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $55.11 on Wednesday. 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, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $57.35. The stock has a 50 day moving average price of $55.11 and a two-hundred day moving average price of $50.96. The company has a market capitalization of $7.29 billion, a P/E ratio of 25.40 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data 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). The company had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors 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 dividend on an annualized basis and a dividend yield of 2.69%. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada boosted their price objective on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group upped their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price for the company in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upped their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.46.

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.