20,690 Shares in First Industrial Realty Trust, Inc. (NYSE:FR) Bought by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management has acquired a new stake in First Industrial Realty Trust, purchasing 20,690 shares valued at approximately $1,116,000 during the first quarter.
• First Industrial Realty Trust reported $0.76 earnings per share (EPS) for the latest quarter, beating expectations of $0.72 and showing a 9.8% year-over-year revenue increase.
• Analyst ratings on First Industrial Realty Trust vary, with some upgrades and downgrades, but the average rating remains a "Hold" with a consensus price target of $55.91.

Picton Mahoney Asset Management purchased a new stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,690 shares of the real estate investment trust's stock, valued at approximately $1,116,000.

Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. boosted its stake in First Industrial Realty Trust by 93.0% in the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 225 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in First Industrial Realty Trust in the 1st quarter worth approximately $26,000. Parallel Advisors LLC boosted its stake in First Industrial Realty Trust by 285.1% in the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 821 shares in the last quarter. Fifth Third Bancorp lifted its stake in First Industrial Realty Trust by 22.2% during the 1st 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 period. Finally, FIL Ltd lifted its stake in First Industrial Realty Trust by 32.8% during the 4th 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 period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen upgraded shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Wells Fargo & Company decreased their price objective on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Barclays decreased their price objective on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Scotiabank lifted 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 research note on Monday, May 12th. Finally, Truist Financial decreased their price objective on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of "Hold" and an average target price of $55.91.

First Industrial Realty Trust Stock Performance

Shares of FR traded down $0.84 during trading hours on Friday, hitting $47.88. The stock had a trading volume of 810,800 shares, compared to its average volume of 1,368,101. 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 firm has a 50-day moving average price of $49.28 and a 200 day moving average price of $51.01. 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 has a market capitalization of $6.34 billion, a price-to-earnings ratio of 23.36 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 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. The company 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 firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

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.