Vanderbilt University Invests $3.22 Million in First Industrial Realty Trust, Inc. (NYSE:FR)

Vanderbilt University purchased a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 57,504 shares of the real estate investment trust’s stock, valued at approximately $3,219,000.

Several other institutional investors and hedge funds also recently bought and sold shares of FR. Vanguard Group Inc. increased its holdings in First Industrial Realty Trust by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock worth $1,008,284,000 after purchasing an additional 77,270 shares during the period. Centersquare Investment Management LLC grew its position in shares of First Industrial Realty Trust by 8.4% in the 1st quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after buying an additional 380,805 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of First Industrial Realty Trust by 7.3% during the second quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock worth $103,465,000 after purchasing an additional 148,996 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of First Industrial Realty Trust by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock worth $96,133,000 after acquiring an additional 118,239 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in First Industrial Realty Trust by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,315 shares of the real estate investment trust’s stock valued at $62,776,000 after purchasing an additional 11,522 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR traded up $0.17 during trading on Monday, hitting $53.78. 70,003 shares of the company traded hands, compared to its average volume of 1,105,111. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 24.71 and a beta of 1.08. The business’s fifty day moving average is $55.52 and its 200-day moving average is $51.32. The company has a quick ratio of 1.16, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a one year low of $40.58 and a one year high of $57.35.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $167.60 million for the quarter, compared to analysts’ expectations 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 revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $0.62 EPS. As a group, equities analysts predict that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Monday, September 30th. First Industrial Realty Trust’s payout ratio is currently 68.20%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FR. Royal Bank of Canada lifted their target price on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Barclays boosted their target price on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Scotiabank upped 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 research report on Monday, August 26th. Truist Financial lifted their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company upped their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.92.

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.