Point72 Asset Management L.P. Has $7.57 Million Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Point72 Asset Management L.P. boosted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 316.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,992 shares of the real estate investment trust's stock after acquiring an additional 114,727 shares during the quarter. Point72 Asset Management L.P. owned 0.11% of First Industrial Realty Trust worth $7,569,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. increased its stake in shares of First Industrial Realty Trust by 24.7% in the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 214 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of First Industrial Realty Trust by 200.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 747 shares in the last quarter. Blue Trust Inc. increased its stake in shares of First Industrial Realty Trust by 30.7% in the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 292 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of First Industrial Realty Trust by 73.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust's stock valued at $68,000 after buying an additional 575 shares in the last quarter. Finally, FIL Ltd increased its stake in shares of First Industrial Realty Trust by 32.8% in the fourth quarter. FIL Ltd now owns 1,449 shares of the real estate investment trust's stock valued at $73,000 after buying an additional 358 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Down 0.3%

NYSE:FR opened at $50.96 on Tuesday. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 23.38 and a beta of 1.08. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17. The stock's 50 day moving average price is $49.76 and its two-hundred day moving average price is $51.94. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings results 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 company 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%. Equities research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust's payout ratio is presently 88.12%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FR. Truist Financial lowered their target price on 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. JPMorgan Chase & Co. lowered their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Barclays lowered their price objective on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, The Goldman Sachs Group lowered their price objective on 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. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of "Moderate Buy" and an average price target of $56.00.

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.

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