Adelante Capital Management LLC Has $16.10 Million Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Adelante Capital Management LLC trimmed its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,522 shares of the real estate investment trust's stock after selling 25,715 shares during the period. First Industrial Realty Trust makes up 0.7% of Adelante Capital Management LLC's portfolio, making the stock its 19th biggest position. Adelante Capital Management LLC owned 0.22% of First Industrial Realty Trust worth $16,095,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FR. V Square Quantitative Management LLC bought a new stake in First Industrial Realty Trust in the third quarter valued at about $28,000. Allspring Global Investments Holdings LLC raised its position in shares of First Industrial Realty Trust by 46.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. UMB Bank n.a. lifted its stake in First Industrial Realty Trust by 116.2% during the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 466 shares during the last quarter. Blue Trust Inc. boosted its holdings in First Industrial Realty Trust by 201.9% in the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 636 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in First Industrial Realty Trust by 77.4% in the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 417 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FR has been the topic of a number of recent research reports. Scotiabank raised their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research report on Monday, August 26th. Wolfe Research upgraded First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 target price for the company in a research note on Tuesday, August 13th. Mizuho increased their price target on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, September 5th. Wells Fargo & Company boosted their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an "equal weight" rating in a report on Wednesday, August 28th. Finally, Barclays dropped their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.83.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock traded down $0.63 during midday trading on Friday, hitting $53.45. The company's stock had a trading volume of 708,315 shares, compared to its average volume of 815,880. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $57.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $7.07 billion, a PE ratio of 22.94 and a beta of 1.08. The stock's 50-day moving average price is $54.07 and its 200-day moving average price is $52.29.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The business had revenue of $167.60 million for the quarter, compared to the consensus estimate of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. Analysts anticipate that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 63.52%.

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.