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

First Industrial Realty Trust, Inc. (NYSE:FR) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,920,000 shares, a growth of 23.1% from the February 28th total of 1,560,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.5% of the company’s stock are sold short.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock traded up $0.15 during mid-day trading on Wednesday, reaching $54.06. 1,031,715 shares of the stock traded hands, compared to its average volume of 1,072,531. First Industrial Realty Trust has a 12-month low of $45.10 and a 12-month high of $58.17. The business’s 50-day moving average is $55.07 and its 200-day moving average is $53.68. 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 stock has a market capitalization of $7.16 billion, a PE ratio of 24.80 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, sell-side analysts predict that First Industrial Realty Trust will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.29%. First Industrial Realty Trust’s payout ratio is 81.65%.

Analyst Ratings Changes

Several brokerages recently issued reports on FR. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price target for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Robert W. Baird lifted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. Finally, Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.38.

Institutional Trading of First Industrial Realty Trust

Hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in shares of First Industrial Realty Trust by 92.5% during the 4th quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 481 shares in the last quarter. UMB Bank n.a. lifted its holdings in First Industrial Realty Trust by 24.7% during the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 214 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of 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 worth $56,000 after purchasing an additional 747 shares during the period. Blue Trust Inc. increased its stake in shares of 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 worth $62,000 after purchasing an additional 292 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of First Industrial Realty Trust by 73.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 575 shares during the period. Institutional investors own 99.85% of the company’s stock.

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.