Geode Capital Management LLC Boosts Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Geode Capital Management LLC raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,468,395 shares of the real estate investment trust’s stock after buying an additional 15,093 shares during the period. Geode Capital Management LLC’s holdings in First Industrial Realty Trust were worth $138,214,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Stifel Financial Corp raised its position in First Industrial Realty Trust by 1.1% during the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock valued at $1,450,000 after purchasing an additional 278 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in shares of First Industrial Realty Trust by 4.8% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 295 shares during the period. Farther Finance Advisors LLC grew its position in shares of First Industrial Realty Trust by 77.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 417 shares in the last quarter. Finally, Fortem Financial Group LLC increased its stake in shares of First Industrial Realty Trust by 4.6% during the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock valued at $469,000 after buying an additional 438 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Scotiabank increased their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Mizuho increased their price objective on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Barclays reduced their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Finally, Wells Fargo & Company increased their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.83.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $52.45 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm has a market cap of $6.94 billion, a PE ratio of 22.51 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $57.35. The stock has a fifty day moving average price of $53.44 and a 200-day moving average price of $52.69.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $167.60 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. Equities research analysts predict that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

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.