Pacer Advisors Inc. Reduces Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Pacer Advisors Inc. decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,437 shares of the real estate investment trust’s stock after selling 4,806 shares during the period. Pacer Advisors Inc. owned about 0.14% of First Industrial Realty Trust worth $10,269,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FR. Manning & Napier Advisors LLC purchased a new position in First Industrial Realty Trust during the 2nd quarter worth $2,824,000. DekaBank Deutsche Girozentrale grew its holdings in First Industrial Realty Trust by 32.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock worth $4,567,000 after acquiring an additional 21,767 shares in the last quarter. Tidal Investments LLC increased its position in First Industrial Realty Trust by 29.6% during the 1st quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock valued at $2,785,000 after purchasing an additional 12,097 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of First Industrial Realty Trust by 17.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 531,900 shares of the real estate investment trust’s stock worth $25,271,000 after purchasing an additional 79,515 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of First Industrial Realty Trust by 2.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,297,240 shares of the real estate investment trust’s stock valued at $61,632,000 after purchasing an additional 26,353 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $53.75 on Friday. First Industrial Realty Trust, Inc. has a 52 week low of $45.02 and a 52 week high of $57.35. The business’s 50 day moving average price is $54.30 and its 200 day moving average price is $52.04. 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 firm has a market cap of $7.11 billion, a P/E ratio of 23.07 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $167.60 million for 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%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.75%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FR. Royal Bank of Canada increased their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Wells Fargo & Company increased their price target 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 decreased their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Truist Financial upped their price target on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Scotiabank boosted their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.83.

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.