Citigroup Inc. Reduces Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Citigroup Inc. lowered its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 33.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,414 shares of the real estate investment trust's stock after selling 35,904 shares during the quarter. Citigroup Inc. owned about 0.05% of First Industrial Realty Trust worth $3,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in 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 worth $122,182,000 after purchasing an additional 81,826 shares during the period. Landscape Capital Management L.L.C. lifted its stake in shares of First Industrial Realty Trust by 171.7% in the third quarter. Landscape Capital Management L.L.C. now owns 14,082 shares of the real estate investment trust's stock worth $788,000 after buying an additional 8,900 shares in the last quarter. Commerce Bank bought a new position in shares of First Industrial Realty Trust in the third quarter worth approximately $4,817,000. Segall Bryant & Hamill LLC lifted its stake in shares of First Industrial Realty Trust by 4.7% in the third quarter. Segall Bryant & Hamill LLC now owns 307,840 shares of the real estate investment trust's stock worth $17,233,000 after buying an additional 13,744 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its stake in shares of First Industrial Realty Trust by 3.0% in the third quarter. Pathstone Holdings LLC now owns 29,686 shares of the real estate investment trust's stock worth $1,663,000 after buying an additional 869 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

FR has been the topic of several analyst reports. Mizuho upped their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, September 5th. Scotiabank upped 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. Barclays lowered their price objective 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 report on Monday, November 18th. Wells Fargo & Company increased their price objective on shares of 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. Finally, Wolfe Research upgraded shares of First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 price objective on the stock in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.83.

First Industrial Realty Trust Price Performance

Shares of NYSE FR traded down $0.35 during midday trading on Wednesday, reaching $52.41. The stock had a trading volume of 599,155 shares, compared to its average volume of 1,077,728. The stock has a 50-day moving average of $53.95 and a 200-day moving average of $52.38. 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 company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 22.64 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $57.35.

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

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 2.82%. First Industrial Realty Trust's payout ratio is 63.52%.

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.