Sanctuary Advisors LLC Makes New $271,000 Investment in First Industrial Realty Trust, Inc. (NYSE:FR)

Sanctuary Advisors LLC bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,887 shares of the real estate investment trust’s stock, valued at approximately $271,000.

Several other hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of First Industrial Realty Trust by 4.8% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 295 shares in the last quarter. Fortem Financial Group LLC boosted its holdings in shares of First Industrial Realty Trust by 4.6% in the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after purchasing an additional 438 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in shares of First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 469 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of First Industrial Realty Trust by 8.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 6,607 shares of the real estate investment trust’s stock worth $314,000 after purchasing an additional 517 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FR shares. 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 report on Tuesday, August 13th. JPMorgan Chase & Co. increased their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada increased their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. The Goldman Sachs Group increased their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. Finally, Truist Financial increased their price objective 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and an average price target of $57.92.

First Industrial Realty Trust Stock Performance

FR stock opened at $55.25 on Friday. The company has a market cap of $7.31 billion, a P/E ratio of 25.46 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 1 year low of $40.44 and a 1 year high of $57.35. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.16 and a quick ratio of 1.16. The stock’s fifty day moving average price is $55.45 and its 200-day moving average price is $51.23.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $167.60 million for the quarter, compared to the consensus estimate of $164.01 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.62 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 2.68%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

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.