Rush Island Management LP Invests $60.85 Million in First Industrial Realty Trust, Inc. (NYSE:FR)

Rush Island Management LP bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,086,963 shares of the real estate investment trust's stock, valued at approximately $60,848,000. First Industrial Realty Trust makes up about 4.7% of Rush Island Management LP's holdings, making the stock its 7th biggest holding. Rush Island Management LP owned about 0.82% of First Industrial Realty Trust as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of First Industrial Realty Trust by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust's stock valued at $122,182,000 after purchasing an additional 81,826 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of First Industrial Realty Trust by 7.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust's stock worth $103,465,000 after acquiring an additional 148,996 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of First Industrial Realty Trust by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust's stock worth $96,133,000 after acquiring an additional 118,239 shares during the period. Bank of New York Mellon Corp boosted its position in shares of First Industrial Realty Trust by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,315 shares of the real estate investment trust's stock valued at $62,776,000 after acquiring an additional 11,522 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of First Industrial Realty Trust by 2.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,297,240 shares of the real estate investment trust's stock valued at $61,632,000 after purchasing an additional 26,353 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on FR shares. Scotiabank lifted their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research note on Monday, August 26th. Wolfe Research raised shares of First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 price target on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company increased their price objective on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 28th. Mizuho lifted their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, September 5th. Finally, Barclays decreased their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.83.

First Industrial Realty Trust Trading Down 0.7 %

FR traded down $0.39 during mid-day trading on Thursday, hitting $52.03. 1,267,685 shares of the stock were exchanged, compared to its average volume of 1,078,536. The company has a market cap of $6.89 billion, a PE ratio of 22.33 and a beta of 1.07. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm's fifty day moving average is $53.81 and its two-hundred day moving average is $52.38. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $57.35.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. Equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.84%. First Industrial Realty Trust's dividend payout ratio (DPR) is 63.52%.

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.