First Industrial Realty Trust, Inc. (NYSE:FR) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,659 shares of the real estate investment trust’s stock after acquiring an additional 1,751 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in First Industrial Realty Trust were worth $1,380,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Centersquare Investment Management LLC grew its holdings in First Industrial Realty Trust by 8.4% in 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. Manning & Napier Advisors LLC acquired a new stake in shares of First Industrial Realty Trust during the 2nd quarter worth about $2,824,000. DekaBank Deutsche Girozentrale raised its position in shares of First Industrial Realty Trust by 32.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock worth $4,567,000 after acquiring an additional 21,767 shares in the last quarter. Tidal Investments LLC grew its stake in First Industrial Realty Trust by 29.6% during the 1st quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock worth $2,785,000 after buying an additional 12,097 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in First Industrial Realty Trust by 163.9% during the 1st quarter. National Bank of Canada FI now owns 475,000 shares of the real estate investment trust’s stock worth $24,956,000 after buying an additional 295,000 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $55.00 on Wednesday. The company has a market cap of $7.28 billion, a P/E ratio of 25.35 and a beta of 1.08. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust, Inc. has a 52 week low of $40.44 and a 52 week high of $57.35. The business has a fifty day simple moving average of $55.50 and a 200-day simple moving average of $51.28.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $167.60 million during 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 business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. Equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Analyst Ratings Changes

Several brokerages have weighed in on FR. Wells Fargo & Company lifted their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Barclays lifted their price objective on First Industrial Realty Trust from $52.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted 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. Truist Financial boosted 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, Mizuho boosted their price target on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. One 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 stock. According to MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and an average target price of $57.92.

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.