First Industrial Realty Trust, Inc. (NYSE:FR) Holdings Cut by HGI Capital Management LLC

HGI Capital Management LLC decreased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 61.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,450 shares of the real estate investment trust's stock after selling 51,111 shares during the period. First Industrial Realty Trust accounts for 1.5% of HGI Capital Management LLC's portfolio, making the stock its 17th largest position. HGI Capital Management LLC's holdings in First Industrial Realty Trust were worth $1,761,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings 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 worth $30,000 after purchasing an additional 200 shares during the period. Azzad Asset Management Inc. ADV grew its stake in First Industrial Realty Trust by 4.8% during the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust's stock worth $307,000 after buying an additional 295 shares during the period. Farther Finance Advisors LLC increased its position in shares of 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 acquiring an additional 417 shares in the last quarter. Fortem Financial Group LLC raised its stake in shares of First Industrial Realty Trust by 4.6% in the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust's stock valued at $469,000 after acquiring an additional 438 shares during the period. Finally, UMB Bank n.a. raised its stake in shares of First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust's stock valued at $49,000 after acquiring an additional 466 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analysts Set New Price Targets

FR has been the subject of several recent research reports. Truist Financial increased their price target on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a "buy" rating in a report on Monday, August 5th. Mizuho raised their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, September 5th. Wolfe Research raised First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 price target on the stock in a research report on Tuesday, August 13th. Scotiabank increased their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a "sector perform" rating in a research report on Monday, August 26th. Finally, Barclays dropped 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 note on Monday, November 18th. One equities 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.83.

First Industrial Realty Trust Stock Down 0.9 %

FR traded down $0.51 during trading on Friday, hitting $53.57. The company had a trading volume of 708,314 shares, compared to its average volume of 1,082,681. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $57.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $7.09 billion, a PE ratio of 22.99 and a beta of 1.08. The business has a 50-day moving average of $54.07 and a 200-day moving average of $52.26.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $167.60 million for 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 quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 earnings per share. As a group, analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.76%. First Industrial Realty Trust's dividend payout ratio (DPR) is 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.