Sumitomo Mitsui Trust Group Inc. Sells 34,046 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,263,194 shares of the real estate investment trust’s stock after selling 34,046 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.95% of First Industrial Realty Trust worth $70,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Land & Buildings Investment Management LLC lifted its position in First Industrial Realty Trust by 256.4% during the second quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust’s stock valued at $38,398,000 after buying an additional 581,472 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in First Industrial Realty Trust during the second quarter worth about $23,755,000. Bank of Montreal Can grew its holdings in First Industrial Realty Trust by 442.8% in the second quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust’s stock worth $26,570,000 after purchasing an additional 456,124 shares during the period. BROOKFIELD Corp ON increased its stake in shares of First Industrial Realty Trust by 479.8% during the first quarter. BROOKFIELD Corp ON now owns 486,178 shares of the real estate investment trust’s stock valued at $25,544,000 after purchasing an additional 402,331 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of First Industrial Realty Trust by 84.4% during the second quarter. National Bank of Canada FI now owns 876,000 shares of the real estate investment trust’s stock valued at $41,286,000 after purchasing an additional 401,000 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Down 2.2 %

NYSE:FR opened at $52.44 on Friday. The company has a 50 day simple moving average of $54.76 and a two-hundred day simple moving average of $51.76. The company has a market cap of $6.94 billion, a PE ratio of 22.51 and a beta of 1.08. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 12 month low of $44.17 and a 12 month high of $57.35.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $164.01 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. First Industrial Realty Trust’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 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 Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

Analyst Upgrades and Downgrades

FR has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target for the company in a research report on Tuesday, August 13th. Truist Financial increased 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 report on Monday, August 5th. Royal Bank of Canada lifted their target price on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Finally, 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 report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $57.92.

First Industrial Realty Trust 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.