First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 9.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 881,082 shares of the real estate investment trust's stock after selling 92,359 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.67% of First Industrial Realty Trust worth $49,323,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in shares of First Industrial Realty Trust during the 3rd quarter worth $28,000. Allspring Global Investments Holdings LLC boosted its stake 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 last quarter. UMB Bank n.a. grew its holdings in shares of 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 buying an additional 466 shares in the last quarter. Blue Trust Inc. raised its position in shares of 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 valued at $53,000 after buying an additional 636 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 417 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Mizuho boosted their price target 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. Truist Financial upped their target price on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, August 5th. Barclays decreased their price target on 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. Wolfe Research raised shares of First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 price objective for the company in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company raised their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, First Industrial Realty Trust has a consensus rating of "Moderate Buy" and an average target price of $57.83.

First Industrial Realty Trust Trading Down 1.2 %

FR traded down $0.63 during trading on Friday, hitting $53.45. 708,314 shares of the company's stock were exchanged, 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 stock has a 50 day moving average price of $54.11 and a 200 day moving average price of $52.22. The firm has a market cap of $7.07 billion, a P/E ratio of 22.94 and a beta of 1.08. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The firm had revenue of $167.60 million during the quarter, compared to analysts' expectations of $164.01 million. During the same period in the prior year, the company earned $0.62 EPS. The firm's revenue was up 8.1% on a year-over-year basis. As a group, analysts expect 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 issued 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 dividend yield of 2.77%. First Industrial Realty Trust's payout ratio is currently 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.