Inspire Investing LLC Purchases 616 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Inspire Investing LLC increased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 9.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,436 shares of the real estate investment trust’s stock after buying an additional 616 shares during the quarter. Inspire Investing LLC’s holdings in First Industrial Realty Trust were worth $353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in First Industrial Realty Trust during the 4th quarter worth about $78,559,000. Frontier Capital Management Co. LLC boosted its position in First Industrial Realty Trust by 788.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock valued at $65,598,000 after purchasing an additional 1,105,286 shares during the last quarter. Centersquare Investment Management LLC boosted its position in First Industrial Realty Trust by 23.6% during the fourth quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock valued at $239,728,000 after purchasing an additional 869,676 shares during the last quarter. Russell Investments Group Ltd. grew its stake in First Industrial Realty Trust by 328.4% in the first quarter. Russell Investments Group Ltd. now owns 750,189 shares of the real estate investment trust’s stock valued at $39,413,000 after purchasing an additional 575,057 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC increased its position in shares of First Industrial Realty Trust by 49.7% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,633,051 shares of the real estate investment trust’s stock worth $86,013,000 after purchasing an additional 541,909 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Down 2.0 %

NYSE FR opened at $55.51 on Monday. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 25.58 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 current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average of $54.68 and a 200-day moving average of $50.83.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The company had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that First Industrial Realty Trust, Inc. will post 2.62 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.67%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FR. Scotiabank raised their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Truist Financial lifted their target price on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BNP Paribas started coverage on First Industrial Realty Trust in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 price target on the stock. Mizuho raised their price target 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. Finally, The Goldman Sachs Group upped their price objective on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.46.

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.