Exchange Traded Concepts LLC Acquires 13,767 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Exchange Traded Concepts LLC raised its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 487.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,594 shares of the real estate investment trust's stock after acquiring an additional 13,767 shares during the period. Exchange Traded Concepts LLC's holdings in First Industrial Realty Trust were worth $895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FR. Invesco Ltd. increased its stake in shares of First Industrial Realty Trust by 80.2% in 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 buying an additional 1,903,164 shares during the period. Norges Bank bought a new position in shares of First Industrial Realty Trust during the 4th quarter worth approximately $90,489,000. Deutsche Bank AG boosted its holdings in shares of First Industrial Realty Trust by 56.1% during the 4th quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock worth $94,176,000 after buying an additional 675,306 shares in the last quarter. Rush Island Management LP boosted its holdings in shares of First Industrial Realty Trust by 50.9% during the 4th quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock worth $82,240,000 after buying an additional 553,567 shares in the last quarter. Finally, Argosy Lionbridge Management LLC bought a new position in shares of First Industrial Realty Trust in the 4th quarter worth $26,447,000. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $49.09 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 24.30 and a beta of 1.08. The company has a fifty day moving average of $48.74 and a 200-day moving average of $51.32. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 1.05.

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

First Industrial Realty Trust Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently commented on FR. Royal Bank Of Canada lowered their price target on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. The Goldman Sachs Group lowered their price target 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. Scotiabank boosted their price target on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. decreased their target price on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Wells Fargo & Company decreased their target price on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, First Industrial Realty Trust has an average rating of "Moderate Buy" and an average price target of $55.91.

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.

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