Natixis Advisors LLC Buys 2,783 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Natixis Advisors LLC raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 12.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,497 shares of the real estate investment trust’s stock after purchasing an additional 2,783 shares during the period. Natixis Advisors LLC’s holdings in First Industrial Realty Trust were worth $1,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in 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 buying an additional 200 shares during the period. Azzad Asset Management Inc. ADV boosted its position in shares of First Industrial Realty Trust by 4.8% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 295 shares in the last quarter. Farther Finance Advisors LLC increased its stake 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 acquiring an additional 417 shares during the period. Fortem Financial Group LLC raised its position in First Industrial Realty Trust by 4.6% in the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after purchasing an additional 438 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in 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 period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $53.85 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50 day simple moving average of $54.26 and a 200 day simple moving average of $52.15. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.02 and a fifty-two week high of $57.35. The firm has a market cap of $7.13 billion, a P/E ratio of 23.38 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $167.60 million during the quarter, compared to the consensus estimate of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 earnings per share. Sell-side 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 firm also recently announced 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. This represents a $1.48 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FR shares. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research note on Tuesday, August 13th. Scotiabank increased their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Wells Fargo & Company boosted their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. increased their target price on shares of 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. Finally, Mizuho boosted their price target on shares of 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.83.

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.