First Industrial Realty Trust, Inc. (NYSE:FR) Stake Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 2,886.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,843 shares of the real estate investment trust's stock after acquiring an additional 18,212 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in First Industrial Realty Trust were worth $1,055,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FR. V Square Quantitative Management LLC bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter worth about $28,000. UMB Bank n.a. grew its stake 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 worth $49,000 after purchasing an additional 466 shares in the last quarter. Blue Trust Inc. increased its holdings 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 buying an additional 636 shares during the last quarter. GAMMA Investing LLC raised its stake in First Industrial Realty Trust by 132.7% during the third quarter. GAMMA Investing LLC now owns 1,103 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 629 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in First Industrial Realty Trust during the 2nd quarter worth approximately $98,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

FR has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, July 30th. Wolfe Research raised shares of First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 target price on the stock in a report on Tuesday, August 13th. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a "buy" rating in a report on Monday, August 5th. Scotiabank increased their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. lifted their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.92.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock traded up $0.23 during mid-day trading on Friday, hitting $52.72. 695,617 shares of the company's stock traded hands, compared to its average volume of 1,102,688. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a one year low of $42.38 and a one year high of $57.35. The firm has a 50 day moving average price of $55.39 and a 200 day moving average price of $51.36. The company has a market cap of $6.98 billion, a PE ratio of 22.52 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The business had revenue of $167.60 million for 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%. The company's revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 earnings per share. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 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.