Creative Planning Buys Shares of 4,615 First Industrial Realty Trust, Inc. (NYSE:FR)

Creative Planning purchased a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,615 shares of the real estate investment trust’s stock, valued at approximately $258,000.

A number of other institutional investors also recently made changes to their positions in the stock. UMB Bank n.a. raised its position in shares of First Industrial Realty Trust by 116.2% in the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 466 shares during the last quarter. Azzad Asset Management Inc. ADV grew its stake in First Industrial Realty Trust by 5.8% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 6,848 shares of the real estate investment trust’s stock worth $383,000 after acquiring an additional 376 shares during the period. GAMMA Investing LLC raised its holdings in First Industrial Realty Trust by 132.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,103 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 629 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of First Industrial Realty Trust by 14.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 38,874 shares of the real estate investment trust’s stock worth $2,176,000 after purchasing an additional 4,800 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of First Industrial Realty Trust during the second quarter worth $23,755,000. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR opened at $53.55 on Friday. The company has a market cap of $7.09 billion, a P/E ratio of 22.98 and a beta of 1.08. First Industrial Realty Trust, Inc. has a one year low of $42.38 and a one year high of $57.35. The business’s 50-day simple moving average is $54.97 and its 200 day simple moving average is $51.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11.

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

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is 63.52%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FR. JPMorgan Chase & Co. increased their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial upped their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank lifted their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Barclays boosted their price objective on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and a consensus price target of $57.92.

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.