First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 84.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 84,725 shares of the real estate investment trust’s stock after selling 474,407 shares during the quarter. Bank of Montreal Can owned about 0.06% of First Industrial Realty Trust worth $4,748,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FR. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 purchasing an additional 200 shares during the period. Azzad Asset Management Inc. ADV raised its position in First Industrial Realty Trust by 4.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 295 shares during the period. Farther Finance Advisors LLC lifted 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 valued at $53,000 after purchasing an additional 417 shares during the last quarter. Fortem Financial Group LLC grew its holdings in shares of First Industrial Realty Trust by 4.6% during the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after purchasing an additional 438 shares during the period. Finally, UMB Bank n.a. increased its position in shares of First Industrial Realty Trust by 116.2% during the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Down 0.4 %

Shares of NYSE FR opened at $52.76 on Wednesday. The stock has a fifty day moving average price of $53.95 and a 200 day moving average price of $52.38. The company has a market cap of $6.98 billion, a P/E ratio of 22.64 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 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 released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $167.60 million for 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 company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.81%. First Industrial Realty Trust’s payout ratio is currently 63.52%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FR. Wolfe Research raised 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 report on Tuesday, August 13th. Barclays dropped their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Mizuho increased their price target on shares of 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. Scotiabank boosted their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, Wells Fargo & Company increased their price objective on 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.