First Industrial Realty Trust, Inc. $FR Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 12.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,087 shares of the real estate investment trust’s stock after selling 24,869 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.13% of First Industrial Realty Trust worth $10,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its holdings in shares of First Industrial Realty Trust by 26.3% in the first quarter. Public Employees Retirement System of Ohio now owns 290,663 shares of the real estate investment trust’s stock worth $16,815,000 after purchasing an additional 60,459 shares during the last quarter. Bank of America Corp DE bought a new stake in First Industrial Realty Trust during the 2nd quarter valued at $52,588,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in First Industrial Realty Trust during the 2nd quarter valued at $4,272,000. Jupiter Topco LLC purchased a new stake in First Industrial Realty Trust during the 2nd quarter valued at $3,715,000. Finally, Corient Private Wealth LP boosted its position in First Industrial Realty Trust by 15.0% during the 2nd quarter. Corient Private Wealth LP now owns 173,817 shares of the real estate investment trust’s stock valued at $10,657,000 after buying an additional 22,642 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 research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of First Industrial Realty Trust from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $74.00 to $60.00 in a report on Friday, October 30th. Truist Financial dropped their target price on shares of First Industrial Realty Trust from $73.00 to $62.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group lowered their price target on First Industrial Realty Trust from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday, October 23rd. Cantor Fitzgerald cut their price objective on First Industrial Realty Trust from $71.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, October 26th. Finally, Weiss Ratings downgraded First Industrial Realty Trust from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, September 8th. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $64.93.

First Industrial Realty Trust Trading Down 0.2%

Shares of FR traded down $0.13 during trading hours on Friday, reaching $53.79. 1,533,884 shares of the company traded hands, compared to its average volume of 1,792,210. First Industrial Realty Trust, Inc. has a 12 month low of $53.27 and a 12 month high of $69.88. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.92. The company’s fifty day moving average price is $59.15 and its two-hundred day moving average price is $61.22. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of 20.00 and a beta of 1.01.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.38). First Industrial Realty Trust had a net margin of 46.12% and a return on equity of 12.60%. The firm had revenue of $197.12 million for the quarter, compared to the consensus estimate of $196.41 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. Equities research analysts predict that First Industrial Realty Trust, Inc. will post 3.16 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 19th. Stockholders of record on Thursday, December 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.7%. First Industrial Realty Trust’s dividend payout ratio is currently 74.35%.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.