Asset Management One Co. Ltd. Reduces Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Asset Management One Co. Ltd. cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 16.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 218,753 shares of the real estate investment trust's stock after selling 43,180 shares during the period. Asset Management One Co. Ltd. owned approximately 0.17% of First Industrial Realty Trust worth $12,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FR. Land & Buildings Investment Management LLC lifted its holdings in First Industrial Realty Trust by 256.4% during the second quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust's stock valued at $38,398,000 after purchasing an additional 581,472 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in First Industrial Realty Trust by 328.4% in the 1st quarter. Russell Investments Group Ltd. now owns 750,189 shares of the real estate investment trust's stock valued at $39,413,000 after buying an additional 575,057 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in First Industrial Realty Trust in the 2nd quarter worth about $23,755,000. Bank of Montreal Can raised its holdings in shares of First Industrial Realty Trust by 442.8% during the second quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust's stock valued at $26,570,000 after acquiring an additional 456,124 shares during the last quarter. Finally, BROOKFIELD Corp ON raised its holdings in shares of First Industrial Realty Trust by 479.8% during the first quarter. BROOKFIELD Corp ON now owns 486,178 shares of the real estate investment trust's stock valued at $25,544,000 after acquiring an additional 402,331 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Trading Down 0.2 %

Shares of FR traded down $0.09 during midday trading on Thursday, hitting $52.75. 1,178,788 shares of the stock were exchanged, compared to its average volume of 1,101,134. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $6.98 billion, a P/E ratio of 22.67 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 52-week low of $42.38 and a 52-week high of $57.35. The stock has a fifty day simple moving average of $55.10 and a 200 day simple moving average of $51.51.

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 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $167.60 million during 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%. First Industrial Realty Trust's revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. On average, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust's dividend payout ratio is currently 63.52%.

Analysts Set New Price Targets

Several analysts recently commented on FR shares. Royal Bank of Canada boosted their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 30th. Truist Financial increased their target price on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, August 5th. The Goldman Sachs Group increased their price objective on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a "sell" rating in a report on Friday, July 26th. Scotiabank raised their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research note on Monday, August 26th. Finally, Wells Fargo & Company upped their price target on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.92.

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.