Amalgamated Bank Cuts Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Amalgamated Bank cut its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 5.9% during the 3rd quarter, Holdings Channel reports. The firm owned 63,044 shares of the real estate investment trust’s stock after selling 3,948 shares during the quarter. Amalgamated Bank’s holdings in First Industrial Realty Trust were worth $3,529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FR. V Square Quantitative Management LLC purchased a new position in First Industrial Realty Trust in the third quarter valued at about $28,000. Allspring Global Investments Holdings LLC boosted its stake in First Industrial Realty Trust by 46.4% in 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 acquiring an additional 200 shares during the last quarter. UMB Bank n.a. boosted its stake in First Industrial Realty Trust by 116.2% in the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 466 shares during the last quarter. Blue Trust Inc. boosted its stake in First Industrial Realty Trust by 201.9% in 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 last quarter. Finally, Farther Finance Advisors LLC boosted its stake in First Industrial Realty Trust by 77.4% in 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 last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FR. Wells Fargo & Company boosted their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upped their price target on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial upped their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group upped 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 research note on Friday, July 26th. Finally, Barclays upped their price target on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.92.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $53.55 on Friday. The firm’s 50 day simple moving average is $54.97 and its 200 day simple moving average is $51.61. 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 firm has a market capitalization of $7.09 billion, a PE ratio of 22.98 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 1-year low of $42.38 and a 1-year high of $57.35.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results 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 business 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%. First Industrial Realty Trust’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. As a group, analysts expect that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently declared 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is 63.52%.

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.