Point72 Asset Management L.P. Purchases 114,727 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Point72 Asset Management L.P. grew its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 316.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,992 shares of the real estate investment trust's stock after acquiring an additional 114,727 shares during the period. Point72 Asset Management L.P. owned about 0.11% of First Industrial Realty Trust worth $7,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. raised its stake in First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock worth $214,401,000 after purchasing an additional 1,903,164 shares in the last quarter. Norges Bank bought a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $90,489,000. Deutsche Bank AG boosted its stake in shares of First Industrial Realty Trust by 56.1% in the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after buying an additional 675,306 shares during the period. Argosy Lionbridge Management LLC bought a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $26,447,000. Finally, Prudential Financial Inc. boosted its stake in shares of First Industrial Realty Trust by 194.5% in the fourth quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust's stock valued at $41,564,000 after buying an additional 523,429 shares during the period. Institutional investors own 99.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on FR shares. The Goldman Sachs Group dropped their target price 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. Wells Fargo & Company reduced their target price on shares of 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. Scotiabank boosted their target price on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Robert W. Baird reduced their target price on shares of 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. reduced their target price 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, First Industrial Realty Trust has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

First Industrial Realty Trust Stock Down 0.7%

FR traded down $0.35 during trading on Friday, hitting $48.13. 897,056 shares of the company's stock were exchanged, compared to its average volume of 1,139,362. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The business's 50 day moving average is $49.27 and its two-hundred day moving average is $51.83. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The stock has a market cap of $6.37 billion, a P/E ratio of 22.08 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $177.07 million for the quarter, compared to analyst estimates of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, equities analysts expect 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 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 is Monday, June 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.70%. First Industrial Realty Trust's dividend payout ratio is currently 88.12%.

About First Industrial Realty Trust

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.