Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 38.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 162,530 shares of the real estate investment trust’s stock after purchasing an additional 45,005 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in First Industrial Realty Trust were worth $5,971,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Signaturefd LLC lifted its position in shares of First Industrial Realty Trust by 12.8% in the first quarter. Signaturefd LLC now owns 2,814 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 320 shares in the last quarter. Exane Derivatives purchased a new stake in shares of First Industrial Realty Trust in the first quarter worth about $164,000. Rockefeller Capital Management L.P. purchased a new stake in shares of First Industrial Realty Trust in the first quarter worth about $169,000. Convergence Investment Partners LLC purchased a new stake in shares of First Industrial Realty Trust in the second quarter worth about $213,000. Finally, World Asset Management Inc purchased a new stake in shares of First Industrial Realty Trust in the first quarter worth about $209,000. 93.37% of the stock is owned by institutional investors and hedge funds.
Shares of FR stock opened at $38.11 on Wednesday. First Industrial Realty Trust, Inc. has a 1 year low of $27.30 and a 1 year high of $38.89. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 0.88. The company’s 50 day moving average is $37.54. The stock has a market capitalization of $4.86 billion, a P/E ratio of 23.83, a PEG ratio of 3.50 and a beta of 0.71.
First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.11). First Industrial Realty Trust had a net margin of 35.11% and a return on equity of 8.70%. The company had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $105.62 million. During the same quarter last year, the company earned $0.39 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts expect that First Industrial Realty Trust, Inc. will post 1.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be given a dividend of $0.23 per share. The ex-dividend date is Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.41%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 57.50%.
FR has been the topic of a number of research analyst reports. Goldman Sachs Group started coverage on First Industrial Realty Trust in a research report on Wednesday, May 15th. They issued a “buy” rating and a $38.00 target price on the stock. Zacks Investment Research upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $32.70.
About First Industrial Realty Trust
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.
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