Entropy Technologies LP Makes New Investment in First Industrial Realty Trust, Inc. (NYSE:FR)

Entropy Technologies LP acquired a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,827 shares of the real estate investment trust's stock, valued at approximately $606,000.

Several other hedge funds also recently modified their holdings of the stock. Land & Buildings Investment Management LLC grew its position in shares of First Industrial Realty Trust by 256.4% in the 2nd quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust's stock valued at $38,398,000 after acquiring an additional 581,472 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in First Industrial Realty Trust during the second quarter worth approximately $23,755,000. Bank of Montreal Can increased its position in First Industrial Realty Trust by 442.8% during the second quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust's stock worth $26,570,000 after buying an additional 456,124 shares during the last quarter. BROOKFIELD Corp ON raised its stake in First Industrial Realty Trust by 479.8% in the first quarter. BROOKFIELD Corp ON now owns 486,178 shares of the real estate investment trust's stock valued at $25,544,000 after buying an additional 402,331 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of First Industrial Realty Trust by 84.4% in the second quarter. National Bank of Canada FI now owns 876,000 shares of the real estate investment trust's stock valued at $41,286,000 after buying an additional 401,000 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR remained flat at $52.44 during trading on Friday. The stock had a trading volume of 609,103 shares, compared to its average volume of 1,093,739. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 22.51 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 1 year low of $44.35 and a 1 year high of $57.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The business's 50 day moving average price is $54.68 and its 200 day moving average price is $51.77.

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

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders 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 2.82%. First Industrial Realty Trust's payout ratio is 63.52%.

Analyst Upgrades and Downgrades

FR has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their price target on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, July 30th. Wolfe Research upgraded shares of First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 price objective for the company in a research report on Tuesday, August 13th. Finally, Scotiabank boosted their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a "sector perform" rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $57.92.

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.