National Bank of Canada FI Acquires 401,000 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

National Bank of Canada FI grew its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 84.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 876,000 shares of the real estate investment trust’s stock after purchasing an additional 401,000 shares during the quarter. National Bank of Canada FI owned approximately 0.66% of First Industrial Realty Trust worth $41,286,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. raised its stake in shares of First Industrial Realty Trust by 781.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 469 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of First Industrial Realty Trust by 46.4% during 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 purchasing an additional 200 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of First Industrial Realty Trust during the 1st quarter valued at $50,000. C M Bidwell & Associates Ltd. boosted its position in shares of First Industrial Realty Trust by 119.5% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in First Industrial Realty Trust during the 4th quarter worth $82,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Scotiabank raised their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Wolfe Research upgraded shares of 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. Wells Fargo & Company upped their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group lifted their price objective on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Hold” and an average target price of $56.46.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $56.44 on Friday. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 26.01 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 52 week low of $40.44 and a 52 week high of $57.35. The firm has a 50-day simple moving average of $52.76 and a 200-day simple moving average of $50.64. 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) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The business had revenue of $164.10 million during the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. On average, equities analysts predict that First Industrial Realty Trust, Inc. will post 2.62 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s payout ratio is currently 68.20%.

First Industrial Realty Trust 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.