First Industrial Realty Trust, Inc. (NYSE:FR) Stock Position Lowered by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 1.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 37,400 shares of the real estate investment trust’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in First Industrial Realty Trust were worth $1,777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FR. International Assets Investment Management LLC purchased a new stake in shares of First Industrial Realty Trust in the fourth quarter worth approximately $153,000. CWM LLC increased its stake in shares of First Industrial Realty Trust by 31.9% in the fourth quarter. CWM LLC now owns 1,613 shares of the real estate investment trust’s stock worth $85,000 after acquiring an additional 390 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of First Industrial Realty Trust by 3.2% during the fourth quarter. Handelsbanken Fonder AB now owns 22,774 shares of the real estate investment trust’s stock worth $1,200,000 after acquiring an additional 700 shares in the last quarter. Yousif Capital Management LLC boosted its position in First Industrial Realty Trust by 7.3% during the fourth quarter. Yousif Capital Management LLC now owns 66,101 shares of the real estate investment trust’s stock valued at $3,482,000 after purchasing an additional 4,494 shares during the last quarter. Finally, Bailard Inc. grew its stake in First Industrial Realty Trust by 12.5% in the fourth quarter. Bailard Inc. now owns 18,000 shares of the real estate investment trust’s stock valued at $948,000 after purchasing an additional 2,000 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports 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 target for the company in a report on Tuesday, August 13th. Truist Financial lifted their target price on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Scotiabank increased their price target on shares of First Industrial Realty Trust from $50.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 7th. BNP Paribas started coverage on shares of First Industrial Realty Trust in a report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.50.

First Industrial Realty Trust Stock Performance

FR opened at $56.40 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average price is $51.30 and its two-hundred day moving average price is $50.49. The firm has a market capitalization of $7.46 billion, a P/E ratio of 25.99 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12-month low of $40.44 and a 12-month high of $56.54.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). The company had revenue of $164.10 million during 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 revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.61 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

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.