1,086,963 Shares in First Industrial Realty Trust, Inc. (NYSE:FR) Bought by Rush Island Management LP

Rush Island Management LP acquired a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,086,963 shares of the real estate investment trust’s stock, valued at approximately $60,848,000. First Industrial Realty Trust accounts for approximately 4.7% of Rush Island Management LP’s portfolio, making the stock its 7th largest holding. Rush Island Management LP owned about 0.82% of First Industrial Realty Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of FR. B. Riley Wealth Advisors Inc. purchased a new position in First Industrial Realty Trust during the first quarter valued at $220,000. Manning & Napier Advisors LLC purchased a new position in shares of First Industrial Realty Trust in the second quarter valued at about $2,824,000. Envestnet Portfolio Solutions Inc. lifted its position in shares of First Industrial Realty Trust by 27.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,211 shares of the real estate investment trust’s stock valued at $485,000 after acquiring an additional 2,182 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of First Industrial Realty Trust by 2.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,297,240 shares of the real estate investment trust’s stock valued at $61,632,000 after acquiring an additional 26,353 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of First Industrial Realty Trust by 8.1% in the second quarter. Raymond James & Associates now owns 25,863 shares of the real estate investment trust’s stock valued at $1,229,000 after acquiring an additional 1,946 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price target on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Barclays dropped their price target on 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. Wolfe Research raised 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 research note on Tuesday, August 13th. Scotiabank increased their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, Mizuho increased their price target on 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.83.

First Industrial Realty Trust Trading Down 0.7 %

Shares of NYSE FR opened at $52.41 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $53.88 and its 200-day moving average price is $52.38. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $57.35. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 22.49 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. First Industrial Realty Trust’s revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 2.82%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 63.52%.

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.