Los Angeles Capital Management LLC Acquires 82,306 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Los Angeles Capital Management LLC lifted its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 251.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,051 shares of the real estate investment trust's stock after buying an additional 82,306 shares during the period. Los Angeles Capital Management LLC owned approximately 0.09% of First Industrial Realty Trust worth $6,208,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FR. Wealth Enhancement Advisory Services LLC grew its holdings in shares of First Industrial Realty Trust by 26.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust's stock worth $536,000 after acquiring an additional 2,106 shares during the period. GAMMA Investing LLC boosted its position in shares of First Industrial Realty Trust by 55.4% in the 1st quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 599 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of First Industrial Realty Trust by 155.1% in the 1st quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust's stock worth $583,000 after purchasing an additional 6,516 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of First Industrial Realty Trust in the 1st quarter worth approximately $481,000. Finally, ProShare Advisors LLC boosted its position in shares of First Industrial Realty Trust by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 6,192 shares of the real estate investment trust's stock worth $310,000 after purchasing an additional 423 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FR shares. The Goldman Sachs Group lowered their price objective on 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. Wells Fargo & Company lowered their price objective on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Royal Bank Of Canada lowered their price objective on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Truist Financial lowered their price objective on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. lowered their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, First Industrial Realty Trust currently has a consensus rating of "Hold" and an average target price of $55.91.

First Industrial Realty Trust Stock Performance

FR traded down $0.73 during mid-day trading on Thursday, reaching $50.32. 538,234 shares of the company traded hands, compared to its average volume of 1,327,618. The stock has a market capitalization of $6.66 billion, a P/E ratio of 24.55 and a beta of 1.07. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The company's fifty day moving average price is $49.36 and its 200-day moving average price is $51.01. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%. The firm had revenue of $180.16 million during the quarter, compared to analyst estimates of $176.46 million. During the same period in the prior year, the business posted $0.66 EPS. First Industrial Realty Trust's revenue was up 9.8% on a year-over-year basis. On average, sell-side 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 announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, June 30th were issued a $0.445 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.54%. First Industrial Realty Trust's dividend payout ratio is currently 86.83%.

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.