Inspire Investing LLC Makes New Investment in First Industrial Realty Trust, Inc. (NYSE:FR)

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Inspire Investing LLC bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FRGet Rating) during the 1st quarter, HoldingsChannel reports. The firm bought 3,776 shares of the real estate investment trust’s stock, valued at approximately $234,000.

Other institutional investors have also modified their holdings of the company. Fieldpoint Private Securities LLC boosted its holdings in shares of First Industrial Realty Trust by 29.4% in the 4th quarter. Fieldpoint Private Securities LLC now owns 770 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 175 shares in the last quarter. Hancock Whitney Corp boosted its holdings in shares of First Industrial Realty Trust by 5.6% in the 4th quarter. Hancock Whitney Corp now owns 4,532 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 239 shares in the last quarter. MUFG Americas Holdings Corp boosted its holdings in shares of First Industrial Realty Trust by 97.3% in the 4th quarter. MUFG Americas Holdings Corp now owns 517 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 255 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of First Industrial Realty Trust by 1.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 21,598 shares of the real estate investment trust’s stock valued at $1,430,000 after buying an additional 267 shares in the last quarter. Finally, Huntington National Bank boosted its holdings in shares of First Industrial Realty Trust by 28.5% in the 4th quarter. Huntington National Bank now owns 1,352 shares of the real estate investment trust’s stock valued at $90,000 after buying an additional 300 shares in the last quarter. Institutional investors own 96.39% of the company’s stock.

FR opened at $48.26 on Friday. First Industrial Realty Trust, Inc. has a 12-month low of $45.79 and a 12-month high of $66.74. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $6.37 billion, a PE ratio of 25.81 and a beta of 0.96. The firm has a 50 day moving average of $50.63 and a two-hundred day moving average of $57.32.

First Industrial Realty Trust (NYSE:FRGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. First Industrial Realty Trust had a net margin of 50.47% and a return on equity of 11.40%. The company had revenue of $125.50 million during the quarter, compared to analyst estimates of $123.45 million. During the same period last year, the firm posted $0.46 EPS. First Industrial Realty Trust’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts predict that First Industrial Realty Trust, Inc. will post 2.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 18th. Shareholders of record on Thursday, June 30th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, June 29th. First Industrial Realty Trust’s dividend payout ratio is presently 63.10%.

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of First Industrial Realty Trust from $70.00 to $61.00 and set a “neutral” rating on the stock in a report on Thursday, June 16th. StockNews.com started coverage on shares of First Industrial Realty Trust in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Truist Financial lowered their target price on shares of First Industrial Realty Trust from $66.00 to $63.00 in a research note on Monday, May 16th. Jefferies Financial Group lowered their target price on shares of First Industrial Realty Trust from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Finally, Mizuho lowered their target price on shares of First Industrial Realty Trust from $64.00 to $55.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average target price of $52.03.

First Industrial Realty Trust Company Profile (Get Rating)

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.

Further Reading

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