Presima Securities ULC Cuts Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Presima Securities ULC lowered its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 53.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,108 shares of the real estate investment trust’s stock after selling 273,592 shares during the period. First Industrial Realty Trust comprises 3.0% of Presima Securities ULC’s investment portfolio, making the stock its 15th biggest position. Presima Securities ULC owned approximately 0.18% of First Industrial Realty Trust worth $13,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in FR. Allspring Global Investments Holdings LLC grew its stake in shares of First Industrial Realty Trust by 46.4% during the second 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 in the last quarter. Azzad Asset Management Inc. ADV increased its holdings in shares of First Industrial Realty Trust by 4.8% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 295 shares during the last quarter. Fortem Financial Group LLC increased its holdings in shares of First Industrial Realty Trust by 4.6% in the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock valued at $469,000 after acquiring an additional 438 shares during the last quarter. UMB Bank n.a. raised its position in shares of First Industrial Realty Trust by 116.2% during the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 466 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its stake in First Industrial Realty Trust by 781.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 469 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on FR shares. Mizuho raised their price objective on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Barclays boosted their price target on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Royal Bank of Canada raised their price objective on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price for the company in a report on Tuesday, August 13th. Finally, The Goldman Sachs Group raised their price target on 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.92.

First Industrial Realty Trust Trading Up 1.4 %

NYSE:FR opened at $55.91 on Thursday. First Industrial Realty Trust, Inc. has a 12-month low of $40.44 and a 12-month high of $57.35. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $55.39 and its 200-day simple moving average is $51.18. The firm has a market cap of $7.40 billion, a P/E ratio of 25.76 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The firm had revenue of $164.10 million during the quarter, compared to analyst estimates of $163.48 million. During the same period in the prior year, the firm posted $0.61 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.65%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 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.