First Industrial Realty Trust, Inc. (NYSE:FR) Shares Acquired by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV increased its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 5.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,848 shares of the real estate investment trust’s stock after buying an additional 376 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in First Industrial Realty Trust were worth $383,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in First Industrial Realty Trust by 132.7% in the third quarter. GAMMA Investing LLC now owns 1,103 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 629 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in First Industrial Realty Trust by 14.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 38,874 shares of the real estate investment trust’s stock worth $2,176,000 after buying an additional 4,800 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in First Industrial Realty Trust during the 2nd quarter worth approximately $23,755,000. Point72 Asia Singapore Pte. Ltd. bought a new position in First Industrial Realty Trust during the 2nd quarter worth approximately $98,000. Finally, Sanctuary Advisors LLC bought a new position in First Industrial Realty Trust during the 2nd quarter worth approximately $271,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of FR opened at $53.98 on Wednesday. The stock has a market cap of $7.14 billion, a PE ratio of 24.88 and a beta of 1.08. The firm’s 50-day simple moving average is $55.22 and its two-hundred day simple moving average is $51.06. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $57.35. 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 announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The company had revenue of $164.10 million for 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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS. 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s payout ratio is 68.20%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FR. JPMorgan Chase & Co. raised their price target on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their price target 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. Scotiabank raised their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Truist Financial raised their price target on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada raised their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.46.

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.