Franklin Resources Inc. Buys 58,088 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Franklin Resources Inc. boosted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 42.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 193,532 shares of the real estate investment trust’s stock after buying an additional 58,088 shares during the period. Franklin Resources Inc. owned approximately 0.15% of First Industrial Realty Trust worth $10,546,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of 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 worth $30,000 after purchasing an additional 200 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of First Industrial Realty Trust by 1.1% in the third quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock worth $1,450,000 after buying an additional 278 shares in the last quarter. Azzad Asset Management Inc. ADV grew its holdings in shares of First Industrial Realty Trust by 4.8% during the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 295 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of 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 valued at $53,000 after acquiring an additional 417 shares in the last quarter. Finally, Fortem Financial Group LLC raised its holdings in First Industrial Realty Trust by 4.6% in the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after acquiring an additional 438 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

NYSE FR opened at $50.73 on Friday. 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 fifty day moving average is $53.13 and its 200 day moving average is $52.79. The company has a market capitalization of $6.71 billion, a PE ratio of 21.77 and a beta of 1.07. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $167.60 million during the quarter, compared to the consensus estimate of $164.01 million. During the same period in the previous year, the company posted $0.62 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.92%. First Industrial Realty Trust’s payout ratio is 63.52%.

Analyst Ratings Changes

A number of research firms have commented on FR. Wells Fargo & Company lifted their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. 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 report on Thursday, September 5th. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Barclays dropped their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Finally, Scotiabank lifted their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.83.

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.