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

Presima Securities ULC cut its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 53.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 240,108 shares of the real estate investment trust’s stock after selling 273,592 shares during the quarter. First Industrial Realty Trust makes up approximately 3.0% of Presima Securities ULC’s portfolio, making the stock its 15th biggest holding. Presima Securities ULC’s holdings in First Industrial Realty Trust were worth $13,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of First Industrial Realty Trust by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 386,723 shares of the real estate investment trust’s stock worth $20,369,000 after buying an additional 100,289 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of First Industrial Realty Trust in the first quarter valued at about $50,000. Sunbelt Securities Inc. purchased a new stake in shares of First Industrial Realty Trust in the first quarter valued at about $89,000. Hennion & Walsh Asset Management Inc. grew its position in shares of First Industrial Realty Trust by 38.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,090 shares of the real estate investment trust’s stock valued at $320,000 after purchasing an additional 1,693 shares during the last quarter. Finally, Oak Thistle LLC increased its stake in shares of First Industrial Realty Trust by 38.2% during the 1st quarter. Oak Thistle LLC now owns 12,509 shares of the real estate investment trust’s stock worth $657,000 after purchasing an additional 3,456 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FR shares. Royal Bank of Canada upped their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their price objective on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Truist Financial upped their target price on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Scotiabank lifted their price target 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.92.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $55.91 on Thursday. The business’s fifty day moving average price is $55.39 and its 200 day moving average price is $51.18. First Industrial Realty Trust, Inc. has a twelve month low of $40.44 and a twelve 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 has a market capitalization of $7.40 billion, a P/E ratio of 25.76 and a beta of 1.08.

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

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.65%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 68.20%.

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.