US Bancorp DE Cuts Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

US Bancorp DE lowered its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,532 shares of the real estate investment trust’s stock after selling 1,003 shares during the period. US Bancorp DE’s holdings in First Industrial Realty Trust were worth $1,261,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. abrdn plc increased its stake in First Industrial Realty Trust by 8.9% during the third quarter. abrdn plc now owns 27,146 shares of the real estate investment trust’s stock worth $1,520,000 after acquiring an additional 2,222 shares during the last quarter. Vanderbilt University bought a new stake in First Industrial Realty Trust during the third quarter worth approximately $3,219,000. Tributary Capital Management LLC increased its stake in First Industrial Realty Trust by 23.1% during the third quarter. Tributary Capital Management LLC now owns 9,960 shares of the real estate investment trust’s stock worth $558,000 after acquiring an additional 1,870 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in First Industrial Realty Trust by 6.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 84,364 shares of the real estate investment trust’s stock worth $4,669,000 after acquiring an additional 5,310 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in First Industrial Realty Trust by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,137 shares of the real estate investment trust’s stock worth $288,000 after acquiring an additional 1,325 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Down 0.2 %

Shares of NYSE FR opened at $52.75 on Friday. The stock has a 50 day moving average price of $55.03 and a 200 day moving average price of $51.52. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 22.64 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 52-week low of $42.38 and a 52-week 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 company had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. 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 business earned $0.62 earnings per share. Sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their target price 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. The Goldman Sachs Group upped their target price on 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. JPMorgan Chase & Co. upped their target price on 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. Scotiabank upped their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, 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 note on Tuesday, August 13th. One investment 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. Based on data from MarketBeat, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $57.92.

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.