Edgestream Partners L.P. Increases Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Edgestream Partners L.P. raised its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 216.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 106,331 shares of the real estate investment trust’s stock after purchasing an additional 72,757 shares during the period. Edgestream Partners L.P.’s holdings in First Industrial Realty Trust were worth $5,052,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FR. Allspring Global Investments Holdings LLC lifted 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 buying an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of First Industrial Realty Trust by 4.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 295 shares in the last quarter. Fortem Financial Group LLC lifted its stake in shares of First Industrial Realty Trust by 4.6% in the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 438 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its stake in shares of First Industrial Realty Trust by 781.7% in the first 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 in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of First Industrial Realty Trust by 8.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 6,607 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 517 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Down 0.5 %

Shares of FR stock opened at $56.38 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $7.46 billion, a P/E ratio of 25.98 and a beta of 1.08. The company has a 50 day moving average price of $54.32 and a 200 day moving average price of $50.77. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The business had revenue of $164.10 million during the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. Equities research analysts predict that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 68.20%.

Wall Street Analyst Weigh In

A number of brokerages have commented on FR. The Goldman Sachs Group lifted their target price on shares of 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. BNP Paribas began coverage on shares of First Industrial Realty Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $57.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Scotiabank lifted their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, Mizuho lifted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, First Industrial Realty Trust presently has an average rating of “Hold” and an average price target of $56.46.

First Industrial Realty Trust 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.