Allspring Global Investments Holdings LLC Increases Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Allspring Global Investments Holdings LLC lifted its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 2,886.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,843 shares of the real estate investment trust’s stock after purchasing an additional 18,212 shares during the period. Allspring Global Investments Holdings LLC’s holdings in First Industrial Realty Trust were worth $1,055,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Blue Trust Inc. raised its position in First Industrial Realty Trust by 201.9% during the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 636 shares during the period. V Square Quantitative Management LLC bought a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at approximately $28,000. Howard Capital Management Group LLC purchased a new stake in First Industrial Realty Trust during the 3rd quarter valued at $206,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in First Industrial Realty Trust by 7.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,659 shares of the real estate investment trust’s stock worth $1,380,000 after buying an additional 1,751 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in First Industrial Realty Trust during the third quarter worth $253,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Down 1.7 %

NYSE:FR opened at $52.48 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.16. The firm has a market cap of $6.95 billion, a PE ratio of 22.52 and a beta of 1.08. The company has a 50-day moving average of $55.44 and a 200 day moving average of $51.36. First Industrial Realty Trust, Inc. has a 1-year low of $41.68 and a 1-year high of $57.35.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays increased their price objective on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Wolfe Research upgraded 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 report on Tuesday, August 13th. Wells Fargo & Company increased 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. Finally, Mizuho boosted their price objective on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.92.

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.