Edgestream Partners L.P. Boosts Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Edgestream Partners L.P. lifted its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 216.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,331 shares of the real estate investment trust’s stock after purchasing an additional 72,757 shares during the quarter. Edgestream Partners L.P. owned 0.08% of First Industrial Realty Trust worth $5,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in shares of First Industrial Realty Trust by 46.4% during 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 purchasing an additional 200 shares during the period. Azzad Asset Management Inc. ADV grew its stake 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 during the period. Fortem Financial Group LLC boosted its stake in First Industrial Realty Trust by 4.6% in the 2nd 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 during the period. Farmers & Merchants Investments Inc. raised its holdings in shares of First Industrial Realty Trust by 781.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 469 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in First Industrial Realty Trust by 8.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 6,607 shares of the real estate investment trust’s stock valued at $314,000 after buying an additional 517 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Down 0.5 %

Shares of NYSE:FR opened at $56.38 on Wednesday. First Industrial Realty Trust, Inc. has a 12-month low of $40.44 and a 12-month high of $57.35. The company has a market capitalization of $7.46 billion, a PE ratio of 25.98 and a beta of 1.08. The business has a 50 day moving average of $54.32 and a two-hundred day moving average of $50.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results 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 business had revenue of $164.10 million for the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, analysts forecast that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s payout ratio is 68.20%.

Analyst Ratings Changes

Several equities analysts have recently commented on FR shares. The Goldman Sachs Group raised their price target on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Friday, July 26th. Mizuho boosted their price target on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a research note on Tuesday, August 13th. BNP Paribas began coverage on First Industrial Realty Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price target on the stock. Finally, Royal Bank of Canada boosted their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.