First Industrial Realty Trust, Inc. (NYSE:FR) Sees Large Decrease in Short Interest

First Industrial Realty Trust, Inc. (NYSE:FR) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,670,000 shares, a decrease of 5.6% from the July 15th total of 1,770,000 shares. Based on an average trading volume of 915,600 shares, the days-to-cover ratio is presently 1.8 days.

First Industrial Realty Trust Trading Down 0.2 %

Shares of FR stock opened at $54.30 on Monday. The stock has a market capitalization of $7.19 billion, a P/E ratio of 25.02 and a beta of 1.07. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The firm’s 50 day moving average is $50.51 and its 200 day moving average is $50.36. First Industrial Realty Trust has a 12-month low of $40.44 and a 12-month high of $55.92.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The firm had revenue of $164.10 million during the quarter, compared to analysts’ expectations of $163.48 million. During the same period in the previous year, the business posted $0.61 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts expect that First Industrial Realty Trust will post 2.61 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s payout ratio is 68.20%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BNP Paribas initiated coverage on shares of First Industrial Realty Trust in a report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 target price for the company. Wolfe Research raised shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Robert W. Baird lowered their target price on First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price target 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Farmers & Merchants Investments Inc. boosted its holdings in First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 469 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 200 shares during the period. Mather Group LLC. purchased a new stake in shares of First Industrial Realty Trust during the first quarter worth about $50,000. EdgeRock Capital LLC purchased a new stake in shares of First Industrial Realty Trust during the fourth quarter worth about $56,000. Finally, C M Bidwell & Associates Ltd. raised its stake in First Industrial Realty Trust by 119.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 765 shares during the period. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Company 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.