State of Alaska Department of Revenue Boosts Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

State of Alaska Department of Revenue lifted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 236,887 shares of the real estate investment trust’s stock after purchasing an additional 278 shares during the quarter. State of Alaska Department of Revenue owned about 0.18% of First Industrial Realty Trust worth $13,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Centersquare Investment Management LLC raised its position in First Industrial Realty Trust by 8.4% in the first 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 purchasing an additional 380,805 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of First Industrial Realty Trust in the 2nd quarter valued at $2,824,000. DekaBank Deutsche Girozentrale lifted its stake in First Industrial Realty Trust by 32.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock worth $4,567,000 after acquiring an additional 21,767 shares in the last quarter. Tidal Investments LLC boosted its holdings in First Industrial Realty Trust by 29.6% during the 1st quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock valued at $2,785,000 after acquiring an additional 12,097 shares during the period. Finally, National Bank of Canada FI grew its position in First Industrial Realty Trust by 163.9% in the 1st quarter. National Bank of Canada FI now owns 475,000 shares of the real estate investment trust’s stock valued at $24,956,000 after acquiring an additional 295,000 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Truist Financial increased their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Wolfe Research raised shares of 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 report on Tuesday, August 13th. Mizuho boosted their price target on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Barclays increased their price objective on First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group boosted their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. One research 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 company has an average rating of “Moderate Buy” and a consensus price target of $57.92.

First Industrial Realty Trust Stock Down 1.7 %

Shares of NYSE FR opened at $53.61 on Monday. The business has a 50-day moving average of $55.52 and a two-hundred day moving average of $51.32. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 24.71 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 1 year low of $40.44 and a 1 year high of $57.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.16.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share 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 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 quarter in the previous year, the business earned $0.62 earnings per share. On average, analysts forecast 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 was paid on Monday, October 21st. Investors of record on Monday, September 30th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 68.20%.

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.