Y Intercept Hong Kong Ltd Purchases 14,399 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Y Intercept Hong Kong Ltd grew its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 358.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,412 shares of the real estate investment trust's stock after acquiring an additional 14,399 shares during the period. Y Intercept Hong Kong Ltd's holdings in First Industrial Realty Trust were worth $994,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in First Industrial Realty Trust by 93.0% in the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 225 shares during the last quarter. Alpine Bank Wealth Management bought a new position in First Industrial Realty Trust in the first quarter valued at approximately $26,000. Parallel Advisors LLC increased its stake in First Industrial Realty Trust by 285.1% in the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 821 shares during the last quarter. Fifth Third Bancorp increased its stake in First Industrial Realty Trust by 22.2% in the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 236 shares during the last quarter. Finally, FIL Ltd increased its stake in First Industrial Realty Trust by 32.8% in the fourth quarter. FIL Ltd now owns 1,449 shares of the real estate investment trust's stock valued at $73,000 after acquiring an additional 358 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FR shares. 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 research note on Monday, April 28th. Royal Bank Of Canada decreased their target price on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Robert W. Baird reduced their price objective on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Barclays reduced their price objective on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their price objective on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Seven 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 presently has a consensus rating of "Hold" and a consensus price target of $55.91.

First Industrial Realty Trust Price Performance

NYSE FR traded down $0.53 on Monday, hitting $49.31. The stock had a trading volume of 104,751 shares, compared to its average volume of 1,319,735. 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 debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 24.06 and a beta of 1.07. The firm has a 50-day moving average of $49.32 and a 200-day moving average of $51.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. The business had revenue of $180.16 million for the quarter, compared to analysts' expectations of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. Equities analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Monday, June 30th. First Industrial Realty Trust's payout ratio is presently 86.83%.

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.