Vision Capital Corp Sells 335,000 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Vision Capital Corp lowered its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 59.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 227,760 shares of the real estate investment trust’s stock after selling 335,000 shares during the period. First Industrial Realty Trust makes up 2.1% of Vision Capital Corp’s investment portfolio, making the stock its 16th biggest holding. Vision Capital Corp owned about 0.17% of First Industrial Realty Trust worth $12,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FR. O Shaughnessy Asset Management LLC grew its position in First Industrial Realty Trust by 4.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,600 shares of the real estate investment trust’s stock valued at $715,000 after purchasing an additional 588 shares during the period. Quadrature Capital Ltd acquired a new position in shares of First Industrial Realty Trust during the first quarter valued at about $305,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of First Industrial Realty Trust during the first quarter worth about $220,000. Tidal Investments LLC raised its holdings in shares of First Industrial Realty Trust by 29.6% in the 1st quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock worth $2,785,000 after acquiring an additional 12,097 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of First Industrial Realty Trust by 32.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock worth $4,567,000 after acquiring an additional 21,767 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

FR has been the subject of several analyst reports. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Tuesday, August 13th. Scotiabank increased their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company lifted their price objective on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Mizuho increased their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Finally, Truist Financial raised their price target on shares of 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 given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and an average price target of $57.83.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $53.75 on Monday. First Industrial Realty Trust, Inc. has a 52 week low of $45.02 and a 52 week high of $57.35. The firm’s 50-day simple moving average is $54.30 and its two-hundred day simple moving average is $52.10. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 23.07 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11.

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

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed 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. This represents a $1.48 annualized dividend and a yield of 2.75%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

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.