First Industrial Realty Trust, Inc. (NYSE:FR) Shares Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC increased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 475,351 shares of the real estate investment trust's stock after acquiring an additional 32,504 shares during the quarter. Lord Abbett & CO. LLC owned about 0.36% of First Industrial Realty Trust worth $26,610,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of First Industrial Realty Trust by 27.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,211 shares of the real estate investment trust's stock valued at $485,000 after purchasing an additional 2,182 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted 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 acquiring an additional 26,353 shares during the period. Raymond James & Associates grew its position in shares of First Industrial Realty Trust by 8.1% during the second quarter. Raymond James & Associates now owns 25,863 shares of the real estate investment trust's stock worth $1,229,000 after acquiring an additional 1,946 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of First Industrial Realty Trust by 8.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 6,607 shares of the real estate investment trust's stock valued at $314,000 after acquiring an additional 517 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in First Industrial Realty Trust in the 2nd quarter valued at $205,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of 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. Scotiabank boosted their price target on 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 increased their price objective on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, September 5th. Finally, Barclays dropped their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating on the stock in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of "Moderate Buy" and an average target price of $57.83.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR traded down $0.35 on Monday, reaching $52.45. 1,000,960 shares of the company were exchanged, compared to its average volume of 1,070,383. The company has a 50-day moving average of $53.44 and a 200-day moving average of $52.69. 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 has a market cap of $6.94 billion, a price-to-earnings ratio of 22.51 and a beta of 1.07. 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 issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The company had revenue of $167.60 million during the quarter, compared to analysts' expectations of $164.01 million. During the same period last year, the company posted $0.62 earnings per share. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.82%. First Industrial Realty Trust's payout ratio is 63.52%.

About First Industrial Realty Trust

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.