HGI Capital Management LLC Has $1.76 Million Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

HGI Capital Management LLC lessened its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 61.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,450 shares of the real estate investment trust’s stock after selling 51,111 shares during the quarter. First Industrial Realty Trust comprises 1.5% of HGI Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. HGI Capital Management LLC’s holdings in First Industrial Realty Trust were worth $1,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in First Industrial Realty Trust in the third quarter valued at about $28,000. Allspring Global Investments Holdings LLC raised its stake in First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. UMB Bank n.a. raised 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 valued at $49,000 after purchasing an additional 466 shares in the last quarter. Blue Trust Inc. raised its stake 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 purchasing an additional 636 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 417 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of FR opened at $54.08 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $45.02 and a 52-week high of $57.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The business’s 50 day moving average price is $54.11 and its two-hundred day moving average price is $52.22. The firm has a market cap of $7.16 billion, a PE ratio of 23.21 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The firm had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. On average, equities 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. Shareholders of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Mizuho boosted their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price for the company in a research note on Tuesday, August 13th. Truist Financial boosted their target price on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wells Fargo & Company boosted their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Barclays lowered their target price on 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. One 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.83.

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.