Vision Capital Corp Sells 335,000 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Vision Capital Corp reduced its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 59.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,760 shares of the real estate investment trust’s stock after selling 335,000 shares during the period. First Industrial Realty Trust makes up about 2.1% of Vision Capital Corp’s holdings, making the stock its 16th largest holding. Vision Capital Corp’s holdings in First Industrial Realty Trust were worth $12,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in FR. V Square Quantitative Management LLC bought a new stake in First Industrial Realty Trust during the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC grew its position 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 valued at $30,000 after purchasing an additional 200 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of First Industrial Realty Trust by 116.2% in the third 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. grew its holdings in shares of First Industrial Realty Trust by 201.9% during the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 636 shares in the last quarter. Finally, 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 purchasing an additional 417 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays decreased their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Scotiabank upped their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Mizuho increased their price target on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Truist Financial increased their target price on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.83.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $53.75 on Monday. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.02 and a fifty-two week high of $57.35. The stock’s 50 day simple moving average is $54.30 and its two-hundred day simple moving average is $52.10. 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 stock has a market cap of $7.11 billion, a price-to-earnings ratio of 23.07 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $167.60 million for 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 previous year, the company posted $0.62 earnings per share. As a group, analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.75%. First Industrial Realty Trust’s 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.