Yousif Capital Management LLC Trims Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Yousif Capital Management LLC lowered its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,723 shares of the real estate investment trust’s stock after selling 2,373 shares during the period. Yousif Capital Management LLC’s holdings in First Industrial Realty Trust were worth $2,543,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FR. abrdn plc boosted its stake in shares of First Industrial Realty Trust by 26.2% during the 4th quarter. abrdn plc now owns 34,263 shares of the real estate investment trust’s stock valued at $1,716,000 after purchasing an additional 7,117 shares in the last quarter. KBC Group NV lifted its holdings in First Industrial Realty Trust by 1,669.2% in the fourth quarter. KBC Group NV now owns 59,657 shares of the real estate investment trust’s stock worth $2,991,000 after buying an additional 56,285 shares during the period. Blue Trust Inc. grew its holdings in shares of First Industrial Realty Trust by 30.7% during the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 292 shares during the period. Exchange Traded Concepts LLC raised its position in shares of First Industrial Realty Trust by 13.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust’s stock worth $142,000 after acquiring an additional 331 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of First Industrial Realty Trust by 9.0% in the 4th quarter. Inspire Investing LLC now owns 8,038 shares of the real estate investment trust’s stock valued at $403,000 after purchasing an additional 667 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Barclays dropped their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.38.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $54.87 on Monday. The business has a 50-day simple moving average of $51.61 and a two-hundred day simple moving average of $53.50. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $57.35. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 25.17 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.24%. The ex-dividend date is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio (DPR) is 81.65%.

First Industrial Realty Trust Company 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.