First Industrial Realty Trust, Inc. $FR Shares Sold by LPL Financial LLC

LPL Financial LLC trimmed its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 2.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,462 shares of the real estate investment trust’s stock after selling 1,359 shares during the period. LPL Financial LLC’s holdings in First Industrial Realty Trust were worth $2,669,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First Industrial Realty Trust by 2.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 98,767 shares of the real estate investment trust’s stock valued at $5,329,000 after purchasing an additional 2,112 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of First Industrial Realty Trust by 1.1% in the first quarter. Cetera Investment Advisers now owns 19,500 shares of the real estate investment trust’s stock valued at $1,052,000 after purchasing an additional 220 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of First Industrial Realty Trust by 25.9% in the first quarter. Avantax Advisory Services Inc. now owns 6,355 shares of the real estate investment trust’s stock valued at $343,000 after purchasing an additional 1,307 shares in the last quarter. Brookwood Investment Group LLC purchased a new stake in shares of First Industrial Realty Trust in the first quarter valued at $220,000. Finally, Machina Capital S.A.S. purchased a new stake in shares of First Industrial Realty Trust in the first quarter valued at $252,000. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

FR has been the subject of a number of research reports. Barclays reduced their price objective on First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Scotiabank lifted their price objective on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. JPMorgan Chase & Co. reduced their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Truist Financial reduced their price objective on First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Hold” and a consensus price target of $55.10.

First Industrial Realty Trust Price Performance

NYSE FR opened at $48.89 on Monday. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The stock’s 50-day moving average is $49.13 and its two-hundred day moving average is $50.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $6.47 billion, a P/E ratio of 23.85 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. The company had revenue of $180.16 million for the quarter, compared to the consensus estimate of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. On average, analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 86.83%.

About First Industrial Realty Trust

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.