Tributary Capital Management LLC Acquires 1,870 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Tributary Capital Management LLC boosted its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 23.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,960 shares of the real estate investment trust’s stock after purchasing an additional 1,870 shares during the period. Tributary Capital Management LLC’s holdings in First Industrial Realty Trust were worth $558,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in First Industrial Realty Trust by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock worth $1,008,284,000 after purchasing an additional 77,270 shares in the last quarter. Centersquare Investment Management LLC grew its position in First Industrial Realty Trust by 8.4% in the 1st quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock worth $259,143,000 after purchasing an additional 380,805 shares in the last quarter. Victory Capital Management Inc. grew its position in First Industrial Realty Trust by 7.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock worth $103,465,000 after purchasing an additional 148,996 shares in the last quarter. Dimensional Fund Advisors LP grew its position in First Industrial Realty Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock worth $96,133,000 after purchasing an additional 118,239 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in First Industrial Realty Trust by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,315 shares of the real estate investment trust’s stock worth $62,776,000 after purchasing an additional 11,522 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Price Performance

FR stock opened at $53.61 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.16 and a current ratio of 1.11. First Industrial Realty Trust, Inc. has a 52 week low of $40.44 and a 52 week high of $57.35. The firm’s fifty day moving average is $55.52 and its 200 day moving average is $51.32. The firm has a market cap of $7.09 billion, a P/E ratio of 24.71 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $164.01 million. During the same quarter last year, the firm earned $0.62 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts predict that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Analysts Set New Price Targets

A number of research analysts have weighed in on FR shares. Barclays boosted their target price on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Mizuho boosted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Truist Financial boosted their target price on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group upped their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.92.

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.