Quantbot Technologies LP Lowers Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Quantbot Technologies LP cut its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 58.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 18,533 shares of the real estate investment trust’s stock after selling 25,648 shares during the period. Quantbot Technologies LP’s holdings in First Industrial Realty Trust were worth $1,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at $28,000. Allspring Global Investments Holdings LLC increased its stake in shares of First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of First Industrial Realty Trust by 116.2% during the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 466 shares during the last quarter. Blue Trust Inc. boosted its position in shares of First Industrial Realty Trust by 201.9% in the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 636 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of First Industrial Realty Trust by 77.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 417 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Down 1.2 %

Shares of FR stock opened at $53.45 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 22.94 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 1 year low of $45.10 and a 1 year high of $57.35. The firm has a fifty day moving average price of $54.07 and a 200-day moving average price of $52.29.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 earnings per share. As a group, equities 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders 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 2.77%. First Industrial Realty Trust’s payout ratio is presently 63.52%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays reduced their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Mizuho lifted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Scotiabank increased their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Truist Financial boosted their price objective on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research note on Tuesday, August 13th. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.