Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,112 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,767 shares of the real estate investment trust’s stock after purchasing an additional 2,112 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Industrial Realty Trust were worth $5,329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FR. American Century Companies Inc. raised its position in shares of First Industrial Realty Trust by 3.4% in the fourth quarter. American Century Companies Inc. now owns 44,017 shares of the real estate investment trust’s stock valued at $2,207,000 after purchasing an additional 1,429 shares during the period. LPL Financial LLC raised its holdings in First Industrial Realty Trust by 28.5% in the 4th quarter. LPL Financial LLC now owns 50,821 shares of the real estate investment trust’s stock valued at $2,548,000 after acquiring an additional 11,270 shares during the period. Norges Bank bought a new position in First Industrial Realty Trust in the 4th quarter valued at about $90,489,000. Pictet Asset Management Holding SA lifted its position in First Industrial Realty Trust by 1.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 41,279 shares of the real estate investment trust’s stock worth $2,069,000 after acquiring an additional 477 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of First Industrial Realty Trust by 83.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 8,028 shares of the real estate investment trust’s stock worth $402,000 after acquiring an additional 3,644 shares during the period. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Trading Down 1.2%

Shares of First Industrial Realty Trust stock opened at $48.70 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 23.76 and a beta of 1.07. The firm’s 50-day moving average price is $49.28 and its two-hundred day moving average price is $51.02.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. The business had revenue of $180.16 million for the quarter, compared to analyst estimates of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. On average, analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FR has been the topic of a number of recent research reports. Scotiabank increased their target price on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a “sector perform” rating in a research note on Monday, May 12th. Wells Fargo & Company lowered their price objective on First Industrial Realty Trust from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. Royal Bank Of Canada reduced their target price 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. Truist Financial decreased their price target on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, The Goldman Sachs Group dropped their price objective on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.91.

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.