First Industrial Realty Trust, Inc. (NYSE:FR) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its stake in First Industrial Realty Trust by 79.6%, now holding 88,508 shares worth approximately $4.78 million as of the latest SEC filing.
• The company recently reported earnings of $0.76 per share, exceeding expectations, with a quarterly revenue of $180.16 million, which represents a 9.8% increase year-over-year.
• Wall Street analysts have provided a consensus rating of "Hold" for First Industrial Realty Trust, with a consensus price target of $55.91.

OVERSEA CHINESE BANKING Corp Ltd grew its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 79.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,508 shares of the real estate investment trust's stock after purchasing an additional 39,229 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.07% of First Industrial Realty Trust worth $4,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its position in 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 in the last quarter. GAMMA Investing LLC lifted its position in First Industrial Realty Trust by 55.4% during the 1st quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust's stock worth $91,000 after acquiring an additional 599 shares in the last quarter. Summit Trail Advisors LLC lifted its position in First Industrial Realty Trust by 155.1% during the 1st quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust's stock worth $583,000 after acquiring an additional 6,516 shares in the last quarter. SG Americas Securities LLC acquired a new position in First Industrial Realty Trust during the 1st quarter worth approximately $481,000. Finally, ProShare Advisors LLC increased its holdings in First Industrial Realty Trust by 7.3% during 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 during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on FR. Wells Fargo & Company dropped 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 report on Monday, May 19th. JPMorgan Chase & Co. dropped their price objective 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. Barclays dropped their price objective on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Royal Bank Of Canada dropped their price objective on 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, Truist Financial dropped their price objective 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. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of "Hold" and an average price target of $55.91.

First Industrial Realty Trust Stock Performance

NYSE FR traded down $0.61 during trading hours on Wednesday, hitting $48.14. The company had a trading volume of 367,485 shares, compared to its average volume of 1,299,669. 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 firm has a market cap of $6.37 billion, a P/E ratio of 23.48 and a beta of 1.04. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The business has a fifty day simple moving average of $49.28 and a 200-day simple moving average of $50.97.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $180.16 million during the quarter, compared to analyst estimates of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Equities analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

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.