Posted by admin on Aug 23rd, 2022 
Northwestern Mutual Wealth Management Co. increased its position in First Industrial Realty Trust, Inc. (NYSE:FR – Get Rating) by 446.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,711 shares of the real estate investment trust’s stock after purchasing an additional 4,665 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in First Industrial Realty Trust were worth $354,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FR. Cornerstone Advisory LLC acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth about $33,000. MUFG Americas Holdings Corp grew its position in shares of First Industrial Realty Trust by 97.3% during the 4th quarter. MUFG Americas Holdings Corp now owns 517 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 255 shares during the period. Sageworth Trust Co of South Dakota acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth about $35,000. Covestor Ltd acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth about $60,000. Finally, Pinebridge Investments L.P. acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth about $106,000. 96.39% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on FR shares. Jefferies Financial Group decreased their target price on First Industrial Realty Trust from $62.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Robert W. Baird lifted their price objective on First Industrial Realty Trust from $69.00 to $75.00 in a report on Friday, July 22nd. Truist Financial cut their price objective on First Industrial Realty Trust from $66.00 to $63.00 in a report on Monday, May 16th. Mizuho cut their price objective on First Industrial Realty Trust from $64.00 to $55.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Finally, The Goldman Sachs Group cut their price objective on 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.33.
NYSE FR opened at $53.27 on Tuesday. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 22.67 and a beta of 0.96. The stock’s 50 day moving average price is $50.02 and its two-hundred day moving average price is $54.93. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.99 and a current ratio of 0.99. First Industrial Realty Trust, Inc. has a 52 week low of $45.79 and a 52 week high of $66.74.
First Industrial Realty Trust (NYSE:FR – Get Rating) last released its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.88 EPS for the quarter, beating the consensus estimate of $0.53 by $0.35. The firm had revenue of $130.00 million for the quarter, compared to analysts’ expectations of $127.55 million. First Industrial Realty Trust had a return on equity of 13.84% and a net margin of 62.25%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. As a group, analysts anticipate that First Industrial Realty Trust, Inc. will post 2.2 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 29th. First Industrial Realty Trust’s dividend payout ratio is currently 50.21%.
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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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