Versor Investments LP Reduces Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Versor Investments LP cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 42.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,936 shares of the real estate investment trust’s stock after selling 4,300 shares during the period. Versor Investments LP’s holdings in First Industrial Realty Trust were worth $332,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new position in First Industrial Realty Trust in the first quarter worth about $230,000. Entropy Technologies LP purchased a new position in First Industrial Realty Trust in the first quarter worth about $298,000. Vanguard Group Inc. boosted its position in First Industrial Realty Trust by 0.4% in the first quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock worth $1,008,284,000 after purchasing an additional 77,270 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in First Industrial Realty Trust by 4.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,600 shares of the real estate investment trust’s stock worth $715,000 after purchasing an additional 588 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in First Industrial Realty Trust by 163.9% in the first quarter. National Bank of Canada FI now owns 475,000 shares of the real estate investment trust’s stock worth $24,956,000 after purchasing an additional 295,000 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of FR opened at $52.44 on Friday. The business’s 50 day moving average is $54.68 and its 200 day moving average is $51.77. The company has a market capitalization of $6.94 billion, a PE ratio of 22.51 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12-month low of $44.35 and a 12-month high of $57.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company had revenue of $167.60 million for the quarter, compared to the consensus estimate of $164.01 million. During the same quarter last year, the company earned $0.62 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Research analysts expect that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed 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. This represents a $1.48 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is 63.52%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Mizuho raised their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised their price objective on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research note on Tuesday, August 13th. Truist Financial raised their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, The Goldman Sachs Group raised their price objective on First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $57.92.

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.