Exane Derivatives grew its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 1,833.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,626 shares of the real estate investment trust’s stock after acquiring an additional 5,335 shares during the period. Exane Derivatives’ holdings in First Industrial Realty Trust were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stone Ridge Asset Management LLC bought a new position in shares of First Industrial Realty Trust in the second quarter worth about $1,102,000. Ellington Management Group LLC bought a new position in shares of First Industrial Realty Trust in the second quarter worth about $345,000. Prudential Financial Inc. raised its stake in shares of First Industrial Realty Trust by 196.8% in the second quarter. Prudential Financial Inc. now owns 1,216,206 shares of the real estate investment trust’s stock worth $44,684,000 after acquiring an additional 806,385 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of First Industrial Realty Trust during the 2nd quarter worth approximately $51,000. Finally, Assetmark Inc. grew its position in shares of First Industrial Realty Trust by 11.5% during the 2nd quarter. Assetmark Inc. now owns 4,993 shares of the real estate investment trust’s stock worth $183,000 after buying an additional 516 shares during the period. 94.39% of the stock is owned by institutional investors.
Several brokerages have recently commented on FR. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Wednesday, September 25th. ValuEngine cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.10.
First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.11). The firm had revenue of $104.10 million for the quarter, compared to analyst estimates of $105.62 million. First Industrial Realty Trust had a net margin of 35.11% and a return on equity of 8.70%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. Analysts predict that First Industrial Realty Trust, Inc. will post 1.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, September 27th. First Industrial Realty Trust’s dividend payout ratio is currently 57.50%.
First Industrial Realty Trust Company Profile
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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