First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by Smithfield Trust Co

Smithfield Trust Co cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 17.0% in the 3rd quarter, Holdings Channel reports. The fund owned 1,813 shares of the real estate investment trust’s stock after selling 372 shares during the period. Smithfield Trust Co’s holdings in First Industrial Realty Trust were worth $100,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FR. Manning & Napier Advisors LLC bought a new position in First Industrial Realty Trust in the second quarter worth about $2,824,000. DekaBank Deutsche Girozentrale lifted its holdings in First Industrial Realty Trust by 32.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock worth $4,567,000 after acquiring an additional 21,767 shares during the last quarter. Tidal Investments LLC lifted its holdings in First Industrial Realty Trust by 29.6% in the first quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock worth $2,785,000 after acquiring an additional 12,097 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of First Industrial Realty Trust by 17.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 531,900 shares of the real estate investment trust’s stock valued at $25,271,000 after buying an additional 79,515 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of First Industrial Realty Trust by 2.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,297,240 shares of the real estate investment trust’s stock valued at $61,632,000 after buying an additional 26,353 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. 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 note on Tuesday, August 13th. Truist Financial raised their price objective on shares of 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 dropped 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 report on Monday. Mizuho upped 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. Finally, Royal Bank of Canada upped their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. One 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’s stock. According to MarketBeat, First Industrial Realty Trust has an average rating of “Moderate Buy” and a consensus price target of $57.83.

First Industrial Realty Trust Stock Up 0.1 %

First Industrial Realty Trust stock opened at $52.81 on Friday. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 22.67 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.02 and a fifty-two week high of $57.35. The firm has a fifty day moving average price of $54.41 and a two-hundred day moving average price of $51.98.

First Industrial Realty Trust (NYSE:FR) last released its 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. The firm had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. 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 Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is currently 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.