Metis Global Partners LLC Purchases 3,118 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Metis Global Partners LLC grew its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 29.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,624 shares of the real estate investment trust’s stock after acquiring an additional 3,118 shares during the quarter. Metis Global Partners LLC’s holdings in First Industrial Realty Trust were worth $763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Manning & Napier Advisors LLC purchased a new position in First Industrial Realty Trust in the second quarter worth about $2,824,000. DekaBank Deutsche Girozentrale increased its position 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 valued at $4,567,000 after purchasing an additional 21,767 shares during the last quarter. Tidal Investments LLC increased 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 purchasing an additional 12,097 shares during the last quarter. National Bank of Canada FI raised its holdings in First Industrial Realty Trust by 163.9% during the 1st quarter. National Bank of Canada FI now owns 475,000 shares of the real estate investment trust’s stock valued at $24,956,000 after buying an additional 295,000 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in First Industrial Realty Trust by 17.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 531,900 shares of the real estate investment trust’s stock worth $25,271,000 after buying an additional 79,515 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of 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. Scotiabank increased their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company boosted their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a report on Tuesday, August 13th. Finally, Mizuho boosted 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.92.

First Industrial Realty Trust Stock Performance

FR opened at $52.44 on Monday. The stock has a fifty day moving average price of $54.61 and a 200-day moving average price of $51.85. First Industrial Realty Trust, Inc. has a 12 month low of $44.35 and a 12 month high of $57.35. 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 firm has a market cap of $6.94 billion, a price-to-earnings ratio of 22.51 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The firm had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. During the same quarter in the prior year, the business posted $0.62 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s 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.