Citigroup Inc. Cuts Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Citigroup Inc. decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 33.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,414 shares of the real estate investment trust’s stock after selling 35,904 shares during the quarter. Citigroup Inc.’s holdings in First Industrial Realty Trust were worth $3,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in First Industrial Realty Trust in the third quarter worth approximately $28,000. Allspring Global Investments Holdings LLC raised 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 during the period. 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 valued at $49,000 after purchasing an additional 466 shares during the period. Blue Trust Inc. raised its position in shares of First Industrial Realty Trust by 201.9% during the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 636 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of First Industrial Realty Trust by 77.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 417 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

FR has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Barclays reduced 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. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a report on Tuesday, August 13th. Mizuho lifted 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. Finally, Scotiabank lifted their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. One 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. Based on data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average price target of $57.83.

First Industrial Realty Trust Trading Down 0.4 %

NYSE FR opened at $52.76 on Wednesday. The company has a fifty day simple moving average of $53.95 and a two-hundred day simple moving average of $52.38. The stock has a market cap of $6.98 billion, a P/E ratio of 22.64 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $57.35. 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 (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $0.62 earnings per share. On average, 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.81%. First Industrial Realty Trust’s payout ratio is currently 63.52%.

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.