First Industrial Realty Trust, Inc. (NYSE:FR) Shares Bought by Bamco Inc. NY

Bamco Inc. NY lifted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 95.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 91,396 shares of the real estate investment trust's stock after buying an additional 44,657 shares during the period. Bamco Inc. NY owned approximately 0.07% of First Industrial Realty Trust worth $5,116,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of First Industrial Realty Trust during the third quarter worth about $28,000. Allspring Global Investments Holdings LLC lifted its position in First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 200 shares during the period. UMB Bank n.a. lifted its position in First Industrial Realty Trust by 116.2% in the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 466 shares during the period. Blue Trust Inc. lifted its position in First Industrial Realty Trust by 201.9% in the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 636 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in First Industrial Realty Trust by 77.4% in the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 417 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

Wall Street Analyst Weigh In

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

First Industrial Realty Trust Price Performance

Shares of FR traded down $0.35 during mid-day trading on Wednesday, reaching $52.41. 599,155 shares of the company's stock were exchanged, compared to its average volume of 1,077,728. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The company has a 50-day simple moving average of $53.88 and a two-hundred day simple moving average of $52.38. First Industrial Realty Trust, Inc. has a 52-week low of $45.10 and a 52-week high of $57.35. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 22.49 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $167.60 million during the quarter, compared to analysts' expectations of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. First Industrial Realty Trust's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. On average, sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently announced 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 is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 2.82%. First Industrial Realty Trust's payout ratio is currently 63.52%.

First Industrial Realty Trust 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.