Deprince Race & Zollo Inc. Purchases 21,460 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Deprince Race & Zollo Inc. lifted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 872,832 shares of the real estate investment trust's stock after purchasing an additional 21,460 shares during the period. Deprince Race & Zollo Inc. owned 0.66% of First Industrial Realty Trust worth $41,468,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Farmers & Merchants Investments Inc. boosted its position in First Industrial Realty Trust by 781.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 469 shares during the period. Allspring Global Investments Holdings LLC grew its stake in First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 200 shares in the last quarter. Mather Group LLC. purchased a new position in First Industrial Realty Trust in the 1st quarter valued at approximately $50,000. C M Bidwell & Associates Ltd. raised its holdings in First Industrial Realty Trust by 119.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust's stock valued at $74,000 after acquiring an additional 765 shares during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of First Industrial Realty Trust during the fourth quarter worth $82,000. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

Shares of NYSE FR traded down $0.48 during mid-day trading on Thursday, reaching $55.48. 2,443,108 shares of the company were exchanged, compared to its average volume of 1,069,161. First Industrial Realty Trust, Inc. has a 52 week low of $40.44 and a 52 week high of $57.35. The company's 50 day moving average price is $55.02 and its 200 day moving average price is $50.94. The stock has a market capitalization of $7.34 billion, a PE ratio of 25.57 and a beta of 1.08. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). The firm had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.61 EPS. Sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.62 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 Monday, October 21st. Shareholders of record on Monday, September 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust's payout ratio is currently 68.20%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FR. Wolfe Research upgraded 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. Scotiabank lifted their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a "sector perform" rating in a report on Monday, August 26th. The Goldman Sachs Group increased their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a "sell" rating in a report on Friday, July 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. Finally, BNP Paribas started coverage on shares of First Industrial Realty Trust in a report on Tuesday, June 4th. They set an "outperform" rating and a $57.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $56.46.

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.