Park Avenue Securities LLC makes new investment in First Industrial Realty Trust, Inc. (NYSE:FR)


Park Avenue Securities LLC acquired a new position in First Industrial Realty Trust, Inc. (NYSE:ENGet a rating) in the 1st trimester, Holdings Channel.com reports. The institutional investor purchased 3,253 shares of the real estate investment trust, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. The New York State Teachers’ Retirement System increased its stake in shares of First Industrial Realty Trust by 196.6% during the 4th quarter. The New York State Teachers’ Retirement System now owns 23,335 shares of the real estate investment trust valued at $1,545,000 after purchasing an additional 15,468 shares during the period. Van ECK Associates Corp increased its stake in shares of First Industrial Realty Trust by 35.8% during the 4th quarter. Van ECK Associates Corp now owns 64,443 shares of the real estate investment trust worth $4,266,000 after purchasing an additional 16,982 shares during the period. Janney Montgomery Scott LLC purchased a new equity stake in First Industrial Realty Trust during Q4 valued at $518,000. State of Michigan Retirement System increased its stake in shares of First Industrial Realty Trust by 2.2% during the 4th quarter. State of Michigan Retirement System now owns 33,001 shares of the real estate investment trust valued at $2,185,000 after purchasing an additional 700 shares during the period. Finally, National Asset Management Inc. increased its position in First Industrial Realty Trust by 19.2% during the 4th quarter. National Asset Management Inc. now owns 6,482 shares of the real estate investment trust worth $429,000 after purchasing an additional 1,042 shares during the period. 96.39% of the shares are held by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE: EN opened at $51.40 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.99 and a debt ratio of 0.80. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.79 and a fifty-two week high of $66.74. The company has a 50-day simple moving average of $49.40 and a 200-day simple moving average of $55.86. The company has a market capitalization of $6.79 billion, a PE ratio of 21.87 and a beta of 0.96.

First Industrial Real Estate Trust (NYSE: ENGet a rating) last reported quarterly earnings data on Wednesday, July 20. The real estate investment trust reported earnings per share of $0.88 for the quarter, beating consensus analyst estimates of $0.53 from $0.35. First Industrial Realty Trust had a net margin of 62.25% and a return on equity of 13.84%. The company had revenue of $130.00 million in the quarter, versus a consensus estimate of $127.55 million. In the same quarter of the previous year, the company achieved EPS of $0.48. The company’s revenue for the quarter increased by 10.7% compared to the same quarter last year. On average, sell-side analysts expect First Industrial Realty Trust, Inc. to post 2.17 EPS for the current year.

Announcement of Industrial Realty Trust’s first dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 18. Shareholders of record on Thursday, June 30 received a dividend of $0.295. This represents an annualized dividend of $1.18 and a yield of 2.30%. The ex-dividend date was Wednesday, June 29. First Industrial Realty Trust’s dividend payout ratio (DPR) is 50.21%.

A Wall Street analyst gives his opinion

FR has been the subject of a number of research reports. StockNews.com launched a hedge on the shares of First Industrial Realty Trust in a research report on Thursday, March 31. They set a “holding” rating for the company. Robert W. Baird raised his price target on shares of First Industrial Realty Trust from $69.00 to $75.00 in a Friday, July 22 research report. Jefferies Financial Group cut its price target on shares of First Industrial Realty Trust from $62.00 to $55.00 and set a “buy” rating for the company in a Thursday, June 30 research report. Mizuho cut its price target on First Industrial Realty Trust shares from $64.00 to $55.00 and set a “na” rating on the stock in a Tuesday, May 17 report. Finally, Truist Financial cut its price target on shares of First Industrial Realty Trust from $66.00 to $63.00 in a Monday, May 16 report. Three research analysts gave the stock a hold rating and six gave the stock a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.33.

First industrial real estate trust profile

(Get a rating)

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator and developer of industrial real estate. In major US markets, our local market experts manage, lease, purchase, (re)develop and sell bulk and regional distribution centers, light industrial facilities and other types of industrial facilities.

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Want to see what other hedge funds hold in FR? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for First Industrial Realty Trust, Inc. (NYSE: ENGet a rating).

Institutional ownership by quarter for First Industrial Realty Trust (NYSE:FR)



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