First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by Smithfield Trust Co

Smithfield Trust Co cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 17.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,813 shares of the real estate investment trust’s stock after selling 372 shares during the quarter. Smithfield Trust Co’s holdings in First Industrial Realty Trust were worth $100,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. V Square Quantitative Management LLC acquired a new position in shares of First Industrial Realty Trust during the third quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC lifted its position 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 acquiring an additional 200 shares in the last quarter. UMB Bank n.a. lifted its position in shares of 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 in the last quarter. Blue Trust Inc. lifted its position in First Industrial Realty Trust by 201.9% during the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 636 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 417 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on FR shares. Wells Fargo & Company lifted their price objective on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group boosted their target price 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. Mizuho boosted their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Royal Bank of Canada boosted their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, Truist Financial boosted their price target on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 5th. One 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, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.83.

First Industrial Realty Trust Stock Performance

FR opened at $52.81 on Friday. The stock has a market cap of $6.99 billion, a P/E ratio of 22.67 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $54.41 and its 200 day simple moving average is $51.98. First Industrial Realty Trust, Inc. has a 1-year low of $45.02 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. During the same quarter in the prior year, the company earned $0.62 EPS. First Industrial Realty Trust’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is presently 63.52%.

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.