Daiwa Securities Group Inc. Trims Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Daiwa Securities Group Inc. lessened its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,277 shares of the real estate investment trust’s stock after selling 1,926 shares during the quarter. Daiwa Securities Group Inc.’s holdings in First Industrial Realty Trust were worth $3,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new position in shares of First Industrial Realty Trust during the second quarter valued at $2,824,000. DekaBank Deutsche Girozentrale raised its holdings in First Industrial Realty Trust by 32.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock worth $4,567,000 after buying an additional 21,767 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of First Industrial Realty Trust by 29.6% in the first quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock worth $2,785,000 after buying an additional 12,097 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of First Industrial Realty Trust by 17.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 531,900 shares of the real estate investment trust’s stock valued at $25,271,000 after buying an additional 79,515 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of First Industrial Realty Trust by 2.1% during the second 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 buying an additional 26,353 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $54.08 on Thursday. The stock has a 50-day moving average price of $54.20 and a 200 day moving average price of $52.19. 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 stock has a market capitalization of $7.16 billion, a P/E ratio of 23.21 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data 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 net margin of 47.34% and a return on equity of 11.53%. The business had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. During the same period last year, the firm posted $0.62 EPS. The company’s revenue was up 8.1% on a year-over-year basis. Equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business 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 $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.74%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is currently 63.52%.

Analysts Set New Price Targets

FR has been the topic of several recent analyst reports. Scotiabank increased 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. Truist Financial lifted their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company raised their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average 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.