Bamco Inc. NY Purchases 2,700 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Bamco Inc. NY lifted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.2% during the first quarter, HoldingsChannel reports. The firm owned 86,939 shares of the real estate investment trust’s stock after buying an additional 2,700 shares during the quarter. Bamco Inc. NY’s holdings in First Industrial Realty Trust were worth $4,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Magnetar Financial LLC bought a new position in shares of First Industrial Realty Trust during the first quarter worth $4,484,000. Quadrature Capital Ltd bought a new stake in First Industrial Realty Trust in the 1st quarter valued at $305,000. Anson Funds Management LP lifted its position in First Industrial Realty Trust by 87.9% in the 1st quarter. Anson Funds Management LP now owns 77,640 shares of the real estate investment trust’s stock valued at $4,079,000 after acquiring an additional 36,330 shares in the last quarter. Natixis lifted its position in First Industrial Realty Trust by 54.6% in the 1st quarter. Natixis now owns 487,000 shares of the real estate investment trust’s stock valued at $25,587,000 after acquiring an additional 172,000 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in First Industrial Realty Trust by 3.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 265,678 shares of the real estate investment trust’s stock valued at $13,955,000 after acquiring an additional 9,450 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

Shares of FR stock traded up $0.42 on Monday, reaching $54.13. The stock had a trading volume of 170,540 shares, compared to its average volume of 1,055,140. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average is $48.45 and its two-hundred day moving average is $50.26. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 24.75 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12 month low of $40.44 and a 12 month high of $55.15.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The firm had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 earnings per share. On average, research analysts expect that First Industrial Realty Trust, Inc. will post 2.61 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.48 annualized dividend and a dividend yield of 2.73%. First Industrial Realty Trust’s dividend payout ratio is 68.20%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Mizuho reaffirmed a “buy” rating and issued a $58.00 price objective on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. Scotiabank cut their price objective on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 16th. BNP Paribas assumed coverage on shares of First Industrial Realty Trust in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 price objective on the stock. Robert W. Baird cut their price objective on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned 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 $53.55.

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.