Tributary Capital Management LLC Lowers Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Tributary Capital Management LLC decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,310 shares of the real estate investment trust’s stock after selling 275 shares during the quarter. Tributary Capital Management LLC’s holdings in First Industrial Realty Trust were worth $502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in First Industrial Realty Trust by 26.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust’s stock worth $536,000 after buying an additional 2,106 shares during the last quarter. GAMMA Investing LLC raised its position in First Industrial Realty Trust by 55.4% in the 1st quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 599 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of First Industrial Realty Trust by 155.1% in the 1st quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust’s stock valued at $583,000 after buying an additional 6,516 shares during the period. SG Americas Securities LLC acquired a new stake in shares of First Industrial Realty Trust in the 1st quarter valued at $481,000. Finally, ProShare Advisors LLC grew its stake in shares of First Industrial Realty Trust by 7.3% during the fourth quarter. ProShare Advisors LLC now owns 6,192 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 423 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $49.36 on Friday. The firm has a market capitalization of $6.54 billion, a PE ratio of 24.08 and a beta of 1.07. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.87. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17. The stock’s 50-day simple moving average is $49.37 and its 200 day simple moving average is $51.00.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $180.16 million during the quarter, compared to analyst estimates of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. On average, analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.61%. First Industrial Realty Trust’s payout ratio is 86.83%.

Analyst Ratings Changes

FR has been the topic of a number of research reports. Truist Financial cut their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Royal Bank Of Canada lowered their price objective on First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. JPMorgan Chase & Co. decreased their price target on First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Barclays reduced their target price on First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Finally, Scotiabank increased their target price on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.91.

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.