Invesco Ltd. Increases Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Key Points

• Invesco Ltd. increased its stake in First Industrial Realty Trust by 2.0%, acquiring an additional 87,229 shares, which brings its total ownership to approximately 3.30% of the company.
• First Industrial Realty Trust recently declared a quarterly dividend of $0.445, translating to an annualized yield of 3.7% with a payout ratio of 86.83%.
• The company's latest earnings report showed $180.16 million in revenue for the quarter, exceeding expectations, and delivered $0.76 earnings per share, surpassing analysts' forecasts.

Invesco Ltd. grew its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 2.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,364,135 shares of the real estate investment trust's stock after acquiring an additional 87,229 shares during the quarter. Invesco Ltd. owned about 3.30% of First Industrial Realty Trust worth $235,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FR. Cetera Investment Advisers lifted its stake in First Industrial Realty Trust by 1.1% in the first quarter. Cetera Investment Advisers now owns 19,500 shares of the real estate investment trust's stock worth $1,052,000 after acquiring an additional 220 shares during the period. Stifel Financial Corp lifted its position in shares of First Industrial Realty Trust by 0.9% during the fourth quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust's stock valued at $1,309,000 after buying an additional 222 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of 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 last quarter. Fifth Third Bancorp lifted its position in shares of First Industrial Realty Trust by 22.2% during the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 236 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of First Industrial Realty Trust by 2.7% during the first quarter. Park Avenue Securities LLC now owns 10,397 shares of the real estate investment trust's stock valued at $561,000 after buying an additional 273 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on FR. The Goldman Sachs Group decreased their price target on shares of 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. JPMorgan Chase & Co. cut their price objective 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. Truist Financial cut their price objective on shares of 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. Royal Bank Of Canada cut their price objective on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Finally, Scotiabank upped their price objective on shares of 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. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of "Hold" and an average target price of $55.10.

First Industrial Realty Trust Stock Performance

NYSE:FR traded up $0.37 during midday trading on Friday, hitting $48.89. The company's stock had a trading volume of 680,997 shares, compared to its average volume of 936,356. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The firm's 50 day moving average is $49.13 and its 200-day moving average is $50.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $6.47 billion, a P/E ratio of 23.85 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The company had revenue of $180.16 million for the quarter, compared to the consensus estimate of $176.46 million. During the same quarter in the prior year, the company earned $0.66 EPS. First Industrial Realty Trust's quarterly revenue was up 9.8% on a year-over-year basis. Equities analysts anticipate 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, October 20th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.6%. First Industrial Realty Trust's dividend payout ratio (DPR) 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.