First Industrial Realty Trust, Inc. (NYSE:FR) Stake Trimmed by Retirement Systems of Alabama

Retirement Systems of Alabama cut its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 57.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,341 shares of the real estate investment trust’s stock after selling 218,763 shares during the quarter. Retirement Systems of Alabama owned 0.12% of First Industrial Realty Trust worth $7,760,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FR. Vanguard Group Inc. boosted its position in shares of First Industrial Realty Trust by 0.4% in the first quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock worth $1,008,284,000 after buying an additional 77,270 shares during the period. Centersquare Investment Management LLC boosted its position in First Industrial Realty Trust by 8.4% during the 1st quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock worth $259,143,000 after acquiring an additional 380,805 shares during the period. Nomura Holdings Inc. grew its stake in First Industrial Realty Trust by 14.9% during the 4th quarter. Nomura Holdings Inc. now owns 3,110,986 shares of the real estate investment trust’s stock valued at $163,856,000 after acquiring an additional 402,744 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of First Industrial Realty Trust by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,042,028 shares of the real estate investment trust’s stock valued at $107,554,000 after purchasing an additional 60,658 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of First Industrial Realty Trust by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,910,754 shares of the real estate investment trust’s stock valued at $100,642,000 after purchasing an additional 23,689 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FR has been the topic of a number of research analyst reports. 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 on the stock in a research report on Tuesday, August 13th. Scotiabank boosted their price target on shares of First Industrial Realty Trust from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. Truist Financial increased their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group boosted their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada upped their target price 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.50.

First Industrial Realty Trust Stock Up 2.5 %

Shares of First Industrial Realty Trust stock opened at $56.41 on Monday. First Industrial Realty Trust, Inc. has a 12-month low of $40.44 and a 12-month high of $56.54. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. The stock has a 50 day moving average price of $51.30 and a two-hundred day moving average price of $50.48. The stock has a market capitalization of $7.47 billion, a P/E ratio of 26.00 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The firm had revenue of $164.10 million during the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. First Industrial Realty Trust’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Equities analysts expect that First Industrial Realty Trust, Inc. will post 2.61 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.62%. First Industrial Realty Trust’s payout ratio is presently 68.20%.

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.