Algert Global LLC Decreases Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Algert Global LLC decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,277 shares of the real estate investment trust’s stock after selling 5,770 shares during the period. Algert Global LLC owned 0.12% of First Industrial Realty Trust worth $8,860,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in First Industrial Realty Trust by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock valued at $122,182,000 after purchasing an additional 81,826 shares in the last quarter. Victory Capital Management Inc. grew its position in First Industrial Realty Trust by 7.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock worth $103,465,000 after acquiring an additional 148,996 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of First Industrial Realty Trust by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock worth $96,133,000 after purchasing an additional 118,239 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of First Industrial Realty Trust by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 1,321,315 shares of the real estate investment trust’s stock valued at $62,776,000 after acquiring an additional 11,522 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in First Industrial Realty Trust by 2.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,297,240 shares of the real estate investment trust’s stock valued at $61,632,000 after purchasing an additional 26,353 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR opened at $53.75 on Friday. 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, Inc. has a 12 month low of $45.02 and a 12 month high of $57.35. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of 23.07 and a beta of 1.08. The firm’s 50-day moving average is $54.35 and its 200 day moving average is $51.99.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $167.60 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 EPS. Research analysts predict that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company 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 dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is 63.52%.

Analyst Ratings Changes

Several research analysts recently issued reports on FR shares. 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 note on Thursday, September 5th. The Goldman Sachs Group boosted their price objective 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. Wells Fargo & Company raised their price objective on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Wolfe Research raised shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price for the company in a report on Tuesday, August 13th. Finally, Barclays decreased their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.83.

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.