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

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 2.6% in the 3rd quarter, according to its most recent disclosure 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.’s holdings in First Industrial Realty Trust were worth $70,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FR. V Square Quantitative Management LLC purchased a new stake in shares of First Industrial Realty Trust in the third quarter worth $28,000. Allspring Global Investments Holdings LLC boosted its holdings in First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 200 shares during the period. UMB Bank n.a. increased its stake in First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 466 shares in the last quarter. Blue Trust Inc. raised its holdings in First Industrial Realty Trust by 201.9% during the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 636 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after acquiring 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

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada increased their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. 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 for the company in a report on Tuesday, August 13th. Scotiabank boosted their target price 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. JPMorgan Chase & Co. upped their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group lifted their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.92.

First Industrial Realty Trust Stock Down 2.2 %

Shares of NYSE:FR opened at $52.44 on Friday. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 22.51 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12 month low of $44.17 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. The company has a 50-day moving average price of $54.76 and a 200 day moving average price of $51.76.

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

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is 63.52%.

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.