Freestone Grove Partners LP Takes Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Freestone Grove Partners LP bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 10,433 shares of the real estate investment trust’s stock, valued at approximately $523,000.

A number of other institutional investors have also added to or reduced their stakes in FR. Vanguard Group Inc. increased its holdings in First Industrial Realty Trust by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust’s stock valued at $962,039,000 after buying an additional 304,589 shares during the period. Invesco Ltd. increased its holdings in shares of First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock valued at $214,401,000 after acquiring an additional 1,903,164 shares during the period. Geode Capital Management LLC raised its position in shares of First Industrial Realty Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust’s stock worth $124,492,000 after acquiring an additional 14,298 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of First Industrial Realty Trust by 5.7% during the 4th quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust’s stock worth $121,922,000 after purchasing an additional 130,819 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in First Industrial Realty Trust by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust’s stock valued at $110,581,000 after purchasing an additional 23,280 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Up 1.9 %

FR stock opened at $49.03 on Friday. The company has a market capitalization of $6.49 billion, a P/E ratio of 22.49 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The firm’s fifty day simple moving average is $51.26 and its 200-day simple moving average is $52.26. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). The company had revenue of $177.07 million for the quarter, compared to analyst estimates of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 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, July 21st. Shareholders of record on Monday, June 30th will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust’s payout ratio is presently 88.12%.

Analysts Set New Price Targets

Several analysts have commented on FR shares. Royal Bank of Canada decreased their price target on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Barclays cut their price target on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Scotiabank dropped their target price on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Monday, April 7th. Finally, Robert W. Baird increased their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.08.

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.