Entropy Technologies LP Acquires Shares of 10,827 First Industrial Realty Trust, Inc. (NYSE:FR)

Entropy Technologies LP acquired a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 10,827 shares of the real estate investment trust’s stock, valued at approximately $606,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Centersquare Investment Management LLC lifted its position in First Industrial Realty Trust by 8.4% in the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after purchasing an additional 380,805 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of First Industrial Realty Trust during the second quarter valued at approximately $2,824,000. DekaBank Deutsche Girozentrale increased its stake in shares of First Industrial Realty Trust by 32.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock valued at $4,567,000 after buying an additional 21,767 shares during the period. Tidal Investments LLC increased its stake in shares of First Industrial Realty Trust by 29.6% during the first quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock valued at $2,785,000 after buying an additional 12,097 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of First Industrial Realty Trust by 163.9% during the first quarter. National Bank of Canada FI now owns 475,000 shares of the real estate investment trust’s stock valued at $24,956,000 after buying an additional 295,000 shares during the period. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

FR has been the topic of several research analyst reports. Scotiabank boosted their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Wells Fargo & Company upped their price target 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. Mizuho upped their price target 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. The Goldman Sachs Group upped their price target on 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, Barclays upped their price target on First Industrial Realty Trust from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.92.

First Industrial Realty Trust Trading Down 2.2 %

NYSE FR opened at $52.44 on Friday. First Industrial Realty Trust, Inc. has a 12 month low of $44.17 and a 12 month high of $57.35. The stock has a market cap of $6.94 billion, a P/E ratio of 22.61 and a beta of 1.08. The stock’s fifty day moving average price is $54.76 and its 200-day moving average price is $51.76. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results 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. The firm had revenue of $167.60 million for the quarter, compared to the consensus estimate of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. As a group, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is currently 63.52%.

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.