California Public Employees Retirement System boosted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 69.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 297,263 shares of the real estate investment trust’s stock after purchasing an additional 121,525 shares during the period. California Public Employees Retirement System owned about 0.23% of First Industrial Realty Trust worth $11,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently modified their holdings of the company. Stone Ridge Asset Management LLC acquired a new stake in First Industrial Realty Trust during the 2nd quarter worth approximately $1,102,000. Ellington Management Group LLC acquired a new stake in First Industrial Realty Trust during the 2nd quarter worth approximately $345,000. Prudential Financial Inc. lifted its holdings in First Industrial Realty Trust by 196.8% during the 2nd quarter. Prudential Financial Inc. now owns 1,216,206 shares of the real estate investment trust’s stock worth $44,684,000 after buying an additional 806,385 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in First Industrial Realty Trust during the 2nd quarter worth approximately $51,000. Finally, Assetmark Inc. increased its position in shares of First Industrial Realty Trust by 11.5% in the 2nd quarter. Assetmark Inc. now owns 4,993 shares of the real estate investment trust’s stock valued at $183,000 after purchasing an additional 516 shares during the last quarter. Institutional investors and hedge funds own 95.22% of the company’s stock.
In other news, EVP Peter Schultz sold 12,000 shares of First Industrial Realty Trust stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $42.03, for a total transaction of $504,360.00. Following the completion of the sale, the executive vice president now directly owns 97,159 shares in the company, valued at $4,083,592.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.22% of the company’s stock.
A number of equities research analysts have commented on FR shares. ValuEngine downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.70.
First Industrial Realty Trust stock traded down $0.21 during midday trading on Wednesday, hitting $42.56. 944,420 shares of the company’s stock were exchanged, compared to its average volume of 706,750. First Industrial Realty Trust, Inc. has a 12-month low of $27.30 and a 12-month high of $43.24. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 3.83 and a beta of 0.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s 50 day simple moving average is $41.65 and its 200 day simple moving average is $38.70.
First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.19. The company had revenue of $106.59 million during the quarter, compared to analysts’ expectations of $106.81 million. First Industrial Realty Trust had a net margin of 45.86% and a return on equity of 11.43%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $0.40 EPS. On average, equities research analysts forecast that First Industrial Realty Trust, Inc. will post 1.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Monday, December 30th. First Industrial Realty Trust’s payout ratio is currently 57.50%.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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