Cibc World Markets Corp Lowers Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Cibc World Markets Corp lessened its holdings in First Industrial Realty Trust, Inc. (NYSE:FRGet Rating) by 12.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,133 shares of the real estate investment trust’s stock after selling 9,686 shares during the quarter. Cibc World Markets Corp’s holdings in First Industrial Realty Trust were worth $4,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Two Sigma Investments LP boosted its stake in shares of First Industrial Realty Trust by 109.0% during the 3rd quarter. Two Sigma Investments LP now owns 574,700 shares of the real estate investment trust’s stock worth $29,930,000 after acquiring an additional 299,691 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of First Industrial Realty Trust by 166.5% during the 4th quarter. Renaissance Technologies LLC now owns 409,100 shares of the real estate investment trust’s stock worth $27,082,000 after acquiring an additional 255,600 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of First Industrial Realty Trust by 54.4% during the 4th quarter. Allianz Asset Management GmbH now owns 676,743 shares of the real estate investment trust’s stock worth $44,800,000 after acquiring an additional 238,564 shares in the last quarter. Tudor Investment Corp Et Al purchased a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $11,202,000. Finally, Morgan Stanley boosted its stake in shares of First Industrial Realty Trust by 146.5% during the 2nd quarter. Morgan Stanley now owns 358,812 shares of the real estate investment trust’s stock worth $18,740,000 after acquiring an additional 213,252 shares in the last quarter. 96.39% of the stock is currently owned by institutional investors.

Several brokerages have recently commented on FR. Mizuho decreased their price target on First Industrial Realty Trust from $64.00 to $55.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. StockNews.com initiated coverage on First Industrial Realty Trust in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Truist Financial dropped their price target on First Industrial Realty Trust from $66.00 to $63.00 in a research report on Monday, May 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Buy” and a consensus target price of $52.73.

FR stock opened at $51.85 on Friday. The stock has a market capitalization of $6.84 billion, a P/E ratio of 27.73 and a beta of 0.93. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.73 and a current ratio of 0.73. First Industrial Realty Trust, Inc. has a one year low of $49.95 and a one year high of $66.74. The company has a 50 day moving average price of $59.10 and a two-hundred day moving average price of $60.31.

First Industrial Realty Trust (NYSE:FRGet Rating) last released its earnings results on Wednesday, April 20th. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $125.50 million during the quarter, compared to analysts’ expectations of $123.45 million. First Industrial Realty Trust had a net margin of 50.47% and a return on equity of 11.40%. First Industrial Realty Trust’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. Research analysts forecast that First Industrial Realty Trust, Inc. will post 2.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 18th. Shareholders of record on Thursday, June 30th will be paid a $0.295 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $1.18 annualized dividend and a yield of 2.28%. First Industrial Realty Trust’s payout ratio is currently 63.10%.

About First Industrial Realty Trust (Get Rating)

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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