Quest Partners LLC Raises Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Quest Partners LLC raised its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 6,160.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,156 shares of the real estate investment trust’s stock after buying an additional 53,291 shares during the period. Quest Partners LLC’s holdings in First Industrial Realty Trust were worth $3,032,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FR. V Square Quantitative Management LLC bought a new position in shares of First Industrial Realty Trust during the third quarter valued at about $28,000. Allspring Global Investments Holdings LLC raised its position in First Industrial Realty Trust by 46.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. UMB Bank n.a. raised its position in First Industrial Realty Trust by 116.2% during the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 466 shares during the last quarter. Blue Trust Inc. lifted 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 during the period. Finally, Farther Finance Advisors LLC grew its position in shares of 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 during the last quarter. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FR. Royal Bank of Canada upped their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Scotiabank upped their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Mizuho lifted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company boosted their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Barclays raised their price objective on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.92.

First Industrial Realty Trust Price Performance

FR stock opened at $52.44 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average price of $54.61 and a 200-day moving average price of $51.85. First Industrial Realty Trust, Inc. has a 52-week low of $44.35 and a 52-week high of $57.35. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 22.51 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The business had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $164.01 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.82%. The ex-dividend date is Tuesday, December 31st. 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.