Los Angeles Capital Management LLC Invests $313,000 in First Industrial Realty Trust, Inc. (NYSE:FR)

Los Angeles Capital Management LLC purchased a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,595 shares of the real estate investment trust’s stock, valued at approximately $313,000.

Other large investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of First Industrial Realty Trust in the 3rd quarter worth about $28,000. Allspring Global Investments Holdings LLC increased its holdings in First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 200 shares in the last quarter. UMB Bank n.a. increased its holdings in First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 466 shares in the last quarter. Blue Trust Inc. increased its holdings in First Industrial Realty Trust by 201.9% in the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 636 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in First Industrial Realty Trust by 77.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

FR has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Mizuho lifted 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. Scotiabank boosted their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Truist Financial boosted their price target on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Wolfe Research upgraded 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 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $57.92.

First Industrial Realty Trust Price Performance

NYSE FR opened at $52.44 on Monday. The stock’s 50 day moving average is $54.61 and its 200 day moving average is $51.85. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 12 month low of $44.35 and a 12 month high of $57.35. The stock has a market cap of $6.94 billion, a PE ratio of 22.51 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The business 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 company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. Research analysts predict that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.82%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 63.52%.

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.