Intech Investment Management LLC Makes New $1.92 Million Investment in First Industrial Realty Trust, Inc. (NYSE:FR)

Intech Investment Management LLC purchased a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 40,445 shares of the real estate investment trust’s stock, valued at approximately $1,922,000.

Several other large investors have also recently made changes to their positions in FR. Norges Bank purchased a new position in First Industrial Realty Trust during the 4th quarter valued at about $78,559,000. Corient Private Wealth LLC purchased a new position in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $1,298,000. Commerce Bank purchased a new position in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $201,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of First Industrial Realty Trust by 2.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 149,240 shares of the real estate investment trust’s stock valued at $7,860,000 after purchasing an additional 3,290 shares in the last quarter. Finally, Paralel Advisors LLC purchased a new stake in First Industrial Realty Trust during the 4th quarter worth approximately $646,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Up 0.5 %

First Industrial Realty Trust stock opened at $55.80 on Tuesday. The stock has a 50-day simple moving average of $54.77 and a 200-day simple moving average of $50.85. The company has a market capitalization of $7.38 billion, a P/E ratio of 25.71 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $57.35.

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

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on FR shares. Wells Fargo & Company raised their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Mizuho increased their price target on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. 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 report on Monday, August 26th. Finally, Truist Financial boosted their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.46.

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.