86,052 Shares in First Industrial Realty Trust, Inc. (NYSE:FR) Purchased by Commerce Bank

Commerce Bank bought a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 86,052 shares of the real estate investment trust’s stock, valued at approximately $4,817,000.

A number of other hedge funds have also recently modified their holdings of FR. Segall Bryant & Hamill LLC boosted its holdings in First Industrial Realty Trust by 4.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 307,840 shares of the real estate investment trust’s stock valued at $17,233,000 after acquiring an additional 13,744 shares during the period. Pathstone Holdings LLC lifted its position in shares of First Industrial Realty Trust by 3.0% during the third quarter. Pathstone Holdings LLC now owns 29,686 shares of the real estate investment trust’s stock worth $1,663,000 after purchasing an additional 869 shares during the last quarter. Quest Partners LLC boosted its stake in shares of First Industrial Realty Trust by 6,160.8% during the third quarter. Quest Partners LLC now owns 54,156 shares of the real estate investment trust’s stock valued at $3,032,000 after purchasing an additional 53,291 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of First Industrial Realty Trust by 0.3% in the third quarter. Thrivent Financial for Lutherans now owns 169,078 shares of the real estate investment trust’s stock worth $9,465,000 after purchasing an additional 481 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in First Industrial Realty Trust by 12.3% in the 3rd quarter. Natixis Advisors LLC now owns 25,497 shares of the real estate investment trust’s stock worth $1,427,000 after buying an additional 2,783 shares during the period. Institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on FR. Royal Bank of Canada boosted their price objective on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Mizuho raised their price objective on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Barclays lowered their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday. JPMorgan Chase & Co. raised their price target on First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Wolfe Research raised shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.83.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $52.81 on Friday. The company has a market capitalization of $6.99 billion, a PE ratio of 22.67 and a beta of 1.08. The company has a 50-day simple moving average of $54.41 and a two-hundred day simple moving average of $51.98. First Industrial Realty Trust, Inc. has a one year low of $45.02 and a one year high of $57.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. First Industrial Realty Trust’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. Research analysts expect that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.80%. First Industrial Realty Trust’s payout ratio is 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.