Cerity Partners LLC Invests $496,000 in First Industrial Realty Trust, Inc. (NYSE:FR)

Cerity Partners LLC purchased a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,819 shares of the real estate investment trust’s stock, valued at approximately $496,000.

A number of other institutional investors also recently modified their holdings of the company. D. E. Shaw & Co. Inc. lifted its position in shares of First Industrial Realty Trust by 17.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 531,900 shares of the real estate investment trust’s stock worth $25,271,000 after purchasing an additional 79,515 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in First Industrial Realty Trust by 2.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,297,240 shares of the real estate investment trust’s stock worth $61,632,000 after acquiring an additional 26,353 shares in the last quarter. United Services Automobile Association acquired a new position in shares of First Industrial Realty Trust in the 2nd quarter valued at approximately $507,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of First Industrial Realty Trust by 2,886.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,843 shares of the real estate investment trust’s stock valued at $1,055,000 after buying an additional 18,212 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in First Industrial Realty Trust by 77.7% during the 2nd quarter. Renaissance Technologies LLC now owns 143,400 shares of the real estate investment trust’s stock worth $6,813,000 after purchasing an additional 62,700 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FR shares. Barclays decreased their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Scotiabank lifted their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Mizuho boosted their price objective 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. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a research note on Tuesday, August 13th. Finally, 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 research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.83.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $51.56 on Friday. The firm has a 50 day simple moving average of $53.72 and a 200 day simple moving average of $52.44. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 22.13 and a beta of 1.07. First Industrial Realty Trust, Inc. has a one year low of $45.10 and a one year high of $57.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11.

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 for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share. Research analysts predict that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.87%. First Industrial Realty Trust’s payout ratio is 63.52%.

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.