Artemis Investment Management LLP Acquires New Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Artemis Investment Management LLP acquired a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the first quarter, according to the company in its most recent filing with the 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 approximately 0.56% of First Industrial Realty Trust at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its position in shares of First Industrial Realty Trust by 11.5% in the fourth quarter. Sanctuary Advisors LLC now owns 10,555 shares of the real estate investment trust's stock valued at $565,000 after buying an additional 1,092 shares during the last quarter. CIBC Asset Management Inc grew its stake in First Industrial Realty Trust by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust's stock worth $205,000 after acquiring an additional 210 shares during the period. Los Angeles Capital Management LLC raised its holdings in First Industrial Realty Trust by 485.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 32,745 shares of the real estate investment trust's stock valued at $1,642,000 after acquiring an additional 27,150 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of First Industrial Realty Trust during the 4th quarter worth $1,463,000. Finally, Versor Investments LP lifted its stake in shares of First Industrial Realty Trust by 497.4% during the 4th quarter. Versor Investments LP now owns 35,460 shares of the real estate investment trust's stock worth $1,778,000 after purchasing an additional 29,524 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

FR stock opened at $49.10 on Friday. The stock's 50 day moving average is $49.03 and its two-hundred day moving average is $51.23. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The company has a market capitalization of $6.50 billion, a PE ratio of 24.31 and a beta of 1.08. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.87.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a return on equity of 9.82% and a net margin of 39.04%. The company had revenue of $177.07 million during the quarter, compared to the consensus estimate of $176.98 million. Analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.63%. The ex-dividend date is Monday, June 30th. First Industrial Realty Trust's dividend payout ratio is currently 88.12%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. The Goldman Sachs Group dropped their target price on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen downgraded shares of First Industrial Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Robert W. Baird lowered their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price target on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Barclays decreased their price target on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $55.91.

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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