First Industrial Realty Trust (NYSE:FR) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) saw an uptick in trading volume on Thursday after the company announced better than expected quarterly earnings. 1,087,115 shares traded hands during mid-day trading, an increase of 21% from the previous session's volume of 895,561 shares.The stock last traded at $55.05 and had previously closed at $53.80.

The real estate investment trust reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.23%. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 67.89%.

Wall Street Analysts Forecast Growth

FR has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a "hold" rating and a $52.00 price target on the stock. Barclays cut their target price 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 note on Monday, November 18th. Finally, KeyCorp upgraded shares of First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $57.38.

Hedge Funds Weigh In On First Industrial Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in First Industrial Realty Trust during the third quarter valued at approximately $28,000. UMB Bank n.a. increased its stake in shares of First Industrial Realty Trust by 116.2% in the 3rd 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 last quarter. Versant Capital Management Inc raised its holdings in shares of First Industrial Realty Trust by 92.5% during the 4th quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust's stock worth $50,000 after buying an additional 481 shares in the last quarter. Blue Trust Inc. lifted its position in shares of First Industrial Realty Trust by 201.9% during the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust's stock worth $53,000 after buying an additional 636 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake 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 buying an additional 417 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The stock has a market cap of $7.28 billion, a P/E ratio of 25.24 and a beta of 1.09. The stock has a 50-day simple moving average of $51.61 and a 200-day simple moving average of $53.50.

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.