Russell Investments Group Ltd. Acquires 104,561 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• Russell Investments Group Ltd. increased its stake in First Industrial Realty Trust by 13.1%, acquiring an additional 104,561 shares, bringing its total ownership to 904,049 shares valued at approximately $48.78 million.
• First Industrial Realty Trust reported a 9.8% year-over-year increase in revenue for the quarter, achieving $180.16 million and an EPS of $0.76, surpassing analysts' expectations.
• The company declared a quarterly dividend of $0.445 per share with a yield of 3.6%, to be paid on October 20th to shareholders of record on September 30th.

Russell Investments Group Ltd. lifted its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 13.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 904,049 shares of the real estate investment trust's stock after purchasing an additional 104,561 shares during the period. Russell Investments Group Ltd. owned about 0.68% of First Industrial Realty Trust worth $48,783,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in shares of First Industrial Realty Trust by 93.0% during the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 225 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in First Industrial Realty Trust during the 1st quarter valued at $26,000. Parallel Advisors LLC increased its holdings in shares of 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 valued at $60,000 after acquiring an additional 821 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of First Industrial Realty Trust in the 1st quarter worth $69,000. Finally, Fifth Third Bancorp lifted its stake in shares of 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 worth $70,000 after purchasing an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

NYSE FR traded down $0.39 on Monday, hitting $48.51. The company had a trading volume of 200,897 shares, compared to its average volume of 1,264,712. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. The company's fifty day moving average price is $49.13 and its 200-day moving average price is $50.70. The company has a market capitalization of $6.42 billion, a PE ratio of 23.67 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.04. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The business had revenue of $180.16 million during the quarter, compared to analysts' expectations of $176.46 million. During the same period in the prior year, the business earned $0.66 earnings per share. The company's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.7%. First Industrial Realty Trust's dividend payout ratio is presently 86.83%.

Analyst Ratings Changes

A number of equities analysts have commented on FR shares. Royal Bank Of Canada reduced their target price on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Scotiabank increased their target price on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Robert W. Baird cut their price target 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. Wells Fargo & Company decreased 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 report on Monday, May 19th. Finally, Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $55.10.

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.