First Industrial Realty Trust, Inc. (NYSE:FR) Sees Large Decrease in Short Interest

First Industrial Realty Trust, Inc. (NYSE:FR) was the target of a significant decline in short interest in July. As of July 31st, there was short interest totalling 1,670,000 shares, a decline of 5.6% from the July 15th total of 1,770,000 shares. Based on an average daily volume of 915,600 shares, the short-interest ratio is presently 1.8 days.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of hedge funds have recently made changes to their positions in the business. Centersquare Investment Management LLC lifted its holdings in First Industrial Realty Trust by 8.4% in the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock worth $259,143,000 after purchasing an additional 380,805 shares during the period. Cetera Trust Company N.A acquired a new stake in shares of First Industrial Realty Trust in the 4th quarter worth approximately $237,000. Campbell & CO Investment Adviser LLC boosted its holdings in shares of First Industrial Realty Trust by 66.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 41,720 shares of the real estate investment trust’s stock valued at $2,197,000 after acquiring an additional 16,652 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of First Industrial Realty Trust during the fourth quarter valued at approximately $11,808,000. Finally, Frontier Capital Management Co. LLC raised its holdings in First Industrial Realty Trust by 788.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after purchasing an additional 1,105,286 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $54.53 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.16 and a quick ratio of 1.16. First Industrial Realty Trust has a 12 month low of $40.44 and a 12 month high of $55.92. The company has a fifty day moving average price of $50.83 and a two-hundred day moving average price of $50.39. The company has a market cap of $7.22 billion, a PE ratio of 25.13 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The business had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. During the same period in the prior year, the company earned $0.61 EPS. First Industrial Realty Trust’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts expect that First Industrial Realty Trust will post 2.61 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 2.71%. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FR shares. Wedbush lowered shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $59.00 to $49.00 in a report on Thursday, April 25th. Royal Bank of Canada raised their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Truist Financial boosted their price target on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Tuesday, August 13th. Finally, Scotiabank upped their target price on First Industrial Realty Trust from $50.00 to $55.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.50.

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.