GAMMA Investing LLC Has $4.90 Million Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

GAMMA Investing LLC boosted its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 8,283.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,707 shares of the real estate investment trust's stock after buying an additional 89,625 shares during the period. GAMMA Investing LLC owned approximately 0.07% of First Industrial Realty Trust worth $4,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FR. abrdn plc grew its position in shares of First Industrial Realty Trust by 26.2% during the fourth quarter. abrdn plc now owns 34,263 shares of the real estate investment trust's stock worth $1,716,000 after buying an additional 7,117 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in First Industrial Realty Trust by 5.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,899 shares of the real estate investment trust's stock valued at $1,298,000 after buying an additional 1,240 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in shares of First Industrial Realty Trust during the fourth quarter worth approximately $212,000. Sovran Advisors LLC purchased a new stake in shares of First Industrial Realty Trust during the fourth quarter worth approximately $631,000. Finally, Allspring Global Investments Holdings LLC raised its position in First Industrial Realty Trust by 11.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 20,931 shares of the real estate investment trust's stock worth $1,036,000 after acquiring an additional 2,088 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Down 0.6%

Shares of FR traded down $0.28 during trading hours on Friday, hitting $49.40. 1,274,126 shares of the company were exchanged, compared to its average volume of 1,158,681. The company has a market cap of $6.54 billion, a PE ratio of 22.66 and a beta of 1.09. The firm's 50 day moving average is $48.43 and its 200-day moving average is $51.43. 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 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its 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). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The business had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. On average, equities research analysts forecast 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. Stockholders of record on Monday, June 30th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.60%. First Industrial Realty Trust's payout ratio is presently 88.12%.

Wall Street Analyst Weigh In

Several research firms have issued reports on FR. The Goldman Sachs Group cut their price objective on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Scotiabank upped their target price on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Truist Financial lowered their target price on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Robert W. Baird lowered their target price on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their target price on 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. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.