ExodusPoint Capital Management LP Increases Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

ExodusPoint Capital Management LP grew its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 52.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 429,066 shares of the real estate investment trust’s stock after purchasing an additional 147,790 shares during the period. ExodusPoint Capital Management LP owned about 0.32% of First Industrial Realty Trust worth $21,509,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Synovus Financial Corp raised its position in shares of First Industrial Realty Trust by 96.3% in the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock worth $1,588,000 after acquiring an additional 13,922 shares during the period. Franklin Resources Inc. increased its stake in shares of First Industrial Realty Trust by 42.9% in the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock valued at $10,546,000 after purchasing an additional 58,088 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in First Industrial Realty Trust in the 4th quarter worth about $1,463,000. JPMorgan Chase & Co. boosted its position in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after purchasing an additional 747,101 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in First Industrial Realty Trust by 13.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 331 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

FR stock opened at $54.06 on Thursday. First Industrial Realty Trust, Inc. has a 1 year low of $45.10 and a 1 year high of $58.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The firm has a market capitalization of $7.16 billion, a PE ratio of 24.80 and a beta of 1.07. The business has a 50 day simple moving average of $55.11 and a 200-day simple moving average of $53.68.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Equities research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a dividend of $0.445 per share. The ex-dividend date is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a yield of 3.29%. First Industrial Realty Trust’s payout ratio is 81.65%.

Wall Street Analyst Weigh In

FR has been the subject of several research analyst reports. Robert W. Baird upped their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. Finally, The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $52.00 to $59.00 in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.38.

About First Industrial Realty Trust

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.