PNC Financial Services Group Inc. Increases Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

PNC Financial Services Group Inc. lifted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 5.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,091 shares of the real estate investment trust’s stock after purchasing an additional 425 shares during the period. PNC Financial Services Group Inc.’s holdings in First Industrial Realty Trust were worth $437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in First Industrial Realty Trust by 26.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust’s stock valued at $536,000 after purchasing an additional 2,106 shares in the last quarter. GAMMA Investing LLC raised its position in shares of First Industrial Realty Trust by 55.4% in the 1st quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust’s stock worth $91,000 after buying an additional 599 shares during the period. Summit Trail Advisors LLC raised its position in First Industrial Realty Trust by 155.1% in the first quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust’s stock valued at $583,000 after purchasing an additional 6,516 shares during the period. SG Americas Securities LLC purchased a new position in First Industrial Realty Trust in the first quarter valued at about $481,000. Finally, ProShare Advisors LLC grew its stake in shares of First Industrial Realty Trust by 7.3% during the fourth quarter. ProShare Advisors LLC now owns 6,192 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 423 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Down 0.9%

First Industrial Realty Trust stock opened at $48.56 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50-day simple moving average is $49.14 and its 200-day simple moving average is $50.77. The firm has a market capitalization of $6.43 billion, a PE ratio of 23.69 and a beta of 1.04. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The business had revenue of $180.16 million for the quarter, compared to the consensus estimate of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.66 earnings per share. Equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a $0.445 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.7%. First Industrial Realty Trust’s payout ratio is 86.83%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Robert W. Baird decreased their price target on First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Scotiabank boosted their target price on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a “sector perform” rating in a report on Monday, May 12th. JPMorgan Chase & Co. dropped their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Royal Bank Of Canada decreased their price target on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Hold” and a consensus target price of $55.10.

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.