HighTower Advisors LLC Has $332,000 Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

HighTower Advisors LLC lessened its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,979 shares of the real estate investment trust’s stock after selling 699 shares during the quarter. HighTower Advisors LLC’s holdings in First Industrial Realty Trust were worth $332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FR. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 valued at $30,000 after acquiring an additional 200 shares during the last quarter. Azzad Asset Management Inc. ADV increased its holdings in 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. Farther Finance Advisors LLC raised its position in First Industrial Realty Trust by 77.4% in the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 417 shares during the last quarter. Fortem Financial Group LLC boosted its stake in shares of First Industrial Realty Trust by 4.6% during the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock valued at $469,000 after purchasing an additional 438 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of First Industrial Realty Trust by 116.2% during the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 466 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $50.52 on Tuesday. The firm has a 50 day moving average of $53.05 and a 200-day moving average of $52.86. The company has a market cap of $6.69 billion, a price-to-earnings ratio of 21.68 and a beta of 1.07. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business 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 business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the company posted $0.62 earnings per share. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 2.93%. First Industrial Realty Trust’s payout ratio is currently 63.52%.

Analysts Set New Price Targets

Several equities research analysts recently commented on FR shares. Mizuho lifted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Wells Fargo & Company lifted their price target on shares of 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 increased their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Finally, Barclays decreased their price target on 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Hold” and an average target price of $57.83.

First Industrial Realty Trust 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.