Victory Capital Management Inc. Decreases Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Victory Capital Management Inc. decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 69.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 657,976 shares of the real estate investment trust's stock after selling 1,519,785 shares during the quarter. Victory Capital Management Inc. owned 0.50% of First Industrial Realty Trust worth $36,833,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FR. V Square Quantitative Management LLC purchased a new stake in First Industrial Realty Trust during the third quarter valued at $28,000. Allspring Global Investments Holdings LLC lifted its stake in shares of First Industrial Realty Trust by 46.4% in 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. UMB Bank n.a. lifted 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 worth $49,000 after purchasing an additional 466 shares during the period. Blue Trust Inc. boosted its holdings 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 worth $53,000 after buying an additional 636 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in 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. Institutional investors own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FR shares. The Goldman Sachs Group lifted their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a "sell" rating in a research note on Friday, July 26th. Royal Bank of Canada upped 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. Scotiabank raised their price objective on 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. Wolfe Research upgraded 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, Barclays raised their target price on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $57.92.

First Industrial Realty Trust Stock Performance

Shares of FR remained flat at $52.44 during midday trading on Friday. 609,103 shares of the company's stock traded hands, compared to its average volume of 1,071,049. The stock has a market cap of $6.94 billion, a PE ratio of 22.51 and a beta of 1.08. The firm has a 50 day simple moving average of $54.61 and a 200 day simple moving average of $51.81. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. First Industrial Realty Trust, Inc. has a twelve month low of $44.35 and a twelve month high of $57.35.

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 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The firm's revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. Sell-side analysts predict 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 firm 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 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust's dividend payout ratio is 63.52%.

First Industrial Realty Trust Company 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.