Intech Investment Management LLC Sells 15,930 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Intech Investment Management LLC cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 39.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,515 shares of the real estate investment trust’s stock after selling 15,930 shares during the period. Intech Investment Management LLC’s holdings in First Industrial Realty Trust were worth $1,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in First Industrial Realty Trust during the first quarter worth about $305,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of First Industrial Realty Trust during the 1st quarter worth approximately $220,000. Tidal Investments LLC raised its holdings in shares of First Industrial Realty Trust by 29.6% in the 1st quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock worth $2,785,000 after purchasing an additional 12,097 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in First Industrial Realty Trust by 32.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock valued at $4,567,000 after purchasing an additional 21,767 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its stake in First Industrial Realty Trust by 75.0% in the second quarter. Kingswood Wealth Advisors LLC now owns 17,498 shares of the real estate investment trust’s stock valued at $831,000 after purchasing an additional 7,500 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $53.85 on Wednesday. The firm has a market capitalization of $7.13 billion, a P/E ratio of 23.11 and a beta of 1.08. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock’s 50-day simple moving average is $54.26 and its two-hundred day simple moving average is $52.15. First Industrial Realty Trust, Inc. has a twelve month low of $45.02 and a twelve month high of $57.35.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. First Industrial Realty Trust’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share. As a group, equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.75%. First Industrial Realty Trust’s dividend payout ratio is presently 63.52%.

Analysts Set New Price Targets

Several analysts have issued reports on FR shares. Truist Financial boosted their target price on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. 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 report on Tuesday, August 13th. 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 research note on Tuesday, July 30th. Scotiabank raised their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.83.

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.