Pathstone Holdings LLC Acquires 869 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Pathstone Holdings LLC increased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.0% during the third quarter, HoldingsChannel.com reports. The fund owned 29,686 shares of the real estate investment trust’s stock after buying an additional 869 shares during the quarter. Pathstone Holdings LLC’s holdings in First Industrial Realty Trust were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in shares of First Industrial Realty Trust in the 1st quarter worth about $305,000. B. Riley Wealth Advisors Inc. purchased a new position in First Industrial Realty Trust in the first quarter valued at about $220,000. Tidal Investments LLC grew its position in shares of First Industrial Realty Trust by 29.6% during the 1st quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock valued at $2,785,000 after acquiring an additional 12,097 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of First Industrial Realty Trust by 32.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock worth $4,567,000 after purchasing an additional 21,767 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of First Industrial Realty Trust by 75.0% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 17,498 shares of the real estate investment trust’s stock worth $831,000 after purchasing an additional 7,500 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

FR has been the subject of several research reports. Mizuho increased their price objective on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Wells Fargo & Company increased their price target on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Scotiabank boosted their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. increased their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Truist Financial boosted their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.83.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $54.08 on Thursday. The company has a 50 day moving average of $54.20 and a 200 day moving average of $52.19. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7.16 billion, a P/E ratio of 23.11 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12 month low of $45.02 and a 12 month high of $57.35.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The firm had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. During the same period in the previous year, the business earned $0.62 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

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 paid a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.74%. First Industrial Realty Trust’s dividend payout ratio is currently 63.52%.

About First Industrial Realty Trust

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.