HGI Capital Management LLC Buys 5,230 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

HGI Capital Management LLC increased its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 16.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,680 shares of the real estate investment trust’s stock after purchasing an additional 5,230 shares during the quarter. First Industrial Realty Trust accounts for 1.9% of HGI Capital Management LLC’s portfolio, making the stock its 15th largest position. HGI Capital Management LLC’s holdings in First Industrial Realty Trust were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FR. Howard Capital Management Group LLC purchased a new position in shares of First Industrial Realty Trust in the third quarter worth approximately $206,000. Stifel Financial Corp increased its stake in shares of First Industrial Realty Trust by 1.1% in the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock worth $1,450,000 after purchasing an additional 278 shares in the last quarter. Barclays PLC raised its holdings in First Industrial Realty Trust by 34.6% in the 3rd quarter. Barclays PLC now owns 131,111 shares of the real estate investment trust’s stock worth $7,341,000 after purchasing an additional 33,702 shares during the period. Sanctuary Advisors LLC grew its holdings in First Industrial Realty Trust by 60.7% during the third quarter. Sanctuary Advisors LLC now owns 9,463 shares of the real estate investment trust’s stock valued at $509,000 after purchasing an additional 3,576 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of First Industrial Realty Trust by 20.1% in the third quarter. Tidal Investments LLC now owns 82,537 shares of the real estate investment trust’s stock worth $4,620,000 after buying an additional 13,827 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $47.53 on Friday. The company has a market cap of $6.29 billion, a P/E ratio of 21.80 and a beta of 1.07. The business’s 50 day moving average price is $53.11 and its 200-day moving average price is $52.82. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). The firm had revenue of $177.07 million during the quarter, compared to analysts’ expectations of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. Sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a dividend of $0.445 per share. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 81.65%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. Scotiabank lowered their price objective on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price for the company. Robert W. Baird increased their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $52.00 to $59.00 in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $57.77.

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.