Sophron Capital Management L.P. Acquires Shares of 46,824 First Industrial Realty Trust, Inc. (NYSE:FR)

Sophron Capital Management L.P. bought a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 46,824 shares of the real estate investment trust's stock, valued at approximately $2,347,000.

Other large investors have also bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of First Industrial Realty Trust by 80.2% during the fourth quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock valued at $214,401,000 after purchasing an additional 1,903,164 shares during the last quarter. Norges Bank purchased a new stake in shares of First Industrial Realty Trust during the fourth quarter valued at $90,489,000. Deutsche Bank AG lifted its holdings in shares of First Industrial Realty Trust by 56.1% during the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after purchasing an additional 675,306 shares during the last quarter. Rush Island Management LP lifted its holdings in shares of First Industrial Realty Trust by 50.9% during the fourth quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock valued at $82,240,000 after purchasing an additional 553,567 shares during the last quarter. Finally, Argosy Lionbridge Management LLC purchased a new stake in shares of First Industrial Realty Trust during the fourth quarter valued at $26,447,000. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR traded down $0.19 during trading on Thursday, hitting $48.52. 1,005,336 shares of the stock were exchanged, compared to its average volume of 1,137,978. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $58.17. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 22.26 and a beta of 1.08. The company's fifty day simple moving average is $49.41 and its 200-day simple moving average is $51.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). The company had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.67%. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 88.12%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FR. JPMorgan Chase & Co. reduced their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Scotiabank increased their price objective on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Truist Financial cut their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Robert W. Baird cut their price target on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company cut their price target on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of "Moderate Buy" and an average price target of $56.00.

First Industrial Realty Trust 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.