PharVision Advisers LLC Purchases New Position in First Industrial Realty Trust, Inc. (NYSE:FR)

PharVision Advisers LLC purchased a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the 4th quarter, Holdings Channel.com reports. The fund purchased 5,255 shares of the real estate investment trust’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FR. UMB Bank n.a. boosted its holdings in shares of First Industrial Realty Trust by 24.7% in the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 214 shares in the last quarter. Venturi Wealth Management LLC lifted its position in First Industrial Realty Trust by 200.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 747 shares during the last quarter. Blue Trust Inc. boosted its stake in First Industrial Realty Trust by 30.7% in the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 292 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in First Industrial Realty Trust by 73.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 575 shares in the last quarter. Finally, FIL Ltd grew its holdings in shares of First Industrial Realty Trust by 32.8% during the fourth quarter. FIL Ltd now owns 1,449 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 358 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on FR shares. Royal Bank of Canada reduced their target price on First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, April 29th. The Goldman Sachs Group cut their price target on First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Barclays reduced their price objective on First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Truist Financial lowered their target price on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Finally, Robert W. Baird cut their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.00.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $48.77 on Thursday. 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 cap of $6.46 billion, a price-to-earnings ratio of 22.37 and a beta of 1.08. The firm’s fifty day moving average price is $49.55 and its 200 day moving average price is $51.91. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $58.17.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). The firm had revenue of $177.07 million during the quarter, compared to analyst estimates of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. On average, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust’s dividend payout ratio is presently 88.12%.

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.