First Industrial Realty Trust, Inc. (NYSE:FR – Get Free Report) 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 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.
Check Out Our Latest Stock Analysis on First Industrial Realty Trust
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.
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