Freestone Grove Partners LP Buys New Shares in First Industrial Realty Trust, Inc. (NYSE:FR)

Freestone Grove Partners LP acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,433 shares of the real estate investment trust's stock, valued at approximately $523,000.

A number of other hedge funds also recently made changes to their positions in the stock. Synovus Financial Corp lifted its position in shares of First Industrial Realty Trust by 96.3% in the 3rd quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust's stock worth $1,588,000 after purchasing an additional 13,922 shares during the period. Franklin Resources Inc. boosted its position in First Industrial Realty Trust by 42.9% during the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock valued at $10,546,000 after acquiring an additional 58,088 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of First Industrial Realty Trust during the 4th quarter worth approximately $1,463,000. Barclays PLC raised its position in shares of First Industrial Realty Trust by 109.7% in the 4th quarter. Barclays PLC now owns 274,968 shares of the real estate investment trust's stock worth $13,783,000 after acquiring an additional 143,857 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of First Industrial Realty Trust by 13.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 331 shares during the period. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

NYSE:FR traded up $0.14 during trading hours on Wednesday, reaching $48.71. The company had a trading volume of 1,401,989 shares, compared to its average volume of 1,127,379. The firm's 50 day moving average price is $50.93 and its 200-day moving average price is $52.17. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of 22.34 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The firm had revenue of $177.07 million during the quarter, compared to the consensus estimate of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business 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 $0.445 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.65%. First Industrial Realty Trust's dividend payout ratio is currently 88.12%.

Wall Street Analysts Forecast Growth

FR has been the topic of a number of recent research reports. Scotiabank reduced their target price on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. Robert W. Baird lowered their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a report on Tuesday. Royal Bank of Canada cut their price target on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. The Goldman Sachs Group dropped their target price on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, Truist Financial reduced their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.50.

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.