Artemis Investment Management LLP Takes Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Artemis Investment Management LLP acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 746,730 shares of the real estate investment trust's stock, valued at approximately $40,294,000. Artemis Investment Management LLP owned about 0.56% of First Industrial Realty Trust at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FR. Bessemer Group Inc. grew its position in First Industrial Realty Trust by 93.0% during the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 225 shares during the period. Alpine Bank Wealth Management bought a new position in shares of First Industrial Realty Trust in the first quarter valued at approximately $26,000. Parallel Advisors LLC boosted its holdings in First Industrial Realty Trust by 285.1% in the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 821 shares during the period. Fifth Third Bancorp increased its stake in First Industrial Realty Trust by 22.2% in the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 236 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in First Industrial Realty Trust by 73.2% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FR. Truist Financial lowered their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Barclays dropped their target price on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Wall Street Zen lowered First Industrial Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Finally, The Goldman Sachs Group reduced their price objective on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, First Industrial Realty Trust presently has a consensus rating of "Hold" and a consensus target price of $55.91.

First Industrial Realty Trust Stock Down 0.9%

NYSE FR traded down $0.44 during trading hours on Monday, reaching $48.07. 2,433,586 shares of the company's stock traded hands, compared to its average volume of 1,183,287. The firm has a market cap of $6.36 billion, a PE ratio of 23.80 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.05. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The firm has a 50-day simple moving average of $49.05 and a 200 day simple moving average of $51.19.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 39.04% and a return on equity of 9.82%. The business had revenue of $177.07 million for the quarter, compared to analysts' expectations of $176.98 million. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.445 per share. The ex-dividend date is Monday, June 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.70%. First Industrial Realty Trust's payout ratio is presently 88.12%.

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.