First Industrial Realty Trust (NYSE:FR) Sees Large Volume Increase After Earnings Beat

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) saw an uptick in trading volume on Thursday following a stronger than expected earnings report. 1,087,115 shares were traded during trading, an increase of 21% from the previous session’s volume of 895,561 shares.The stock last traded at $55.05 and had previously closed at $53.80.

The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FR. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective on the stock. Finally, Barclays decreased their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $57.38.

Institutional Trading of First Industrial Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of FR. JPMorgan Chase & Co. grew its holdings in First Industrial Realty Trust by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after buying an additional 747,101 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of First Industrial Realty Trust by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock valued at $138,214,000 after acquiring an additional 15,093 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of First Industrial Realty Trust by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock valued at $122,182,000 after acquiring an additional 81,826 shares in the last quarter. Rush Island Management LP acquired a new position in shares of First Industrial Realty Trust in the third quarter valued at about $60,848,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in First Industrial Realty Trust by 290.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock worth $50,105,000 after acquiring an additional 665,920 shares during the period. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Up 2.2 %

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 23.60 and a beta of 1.09. The firm’s 50 day simple moving average is $51.56 and its two-hundred day simple moving average is $53.49.

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.