First Industrial Realty Trust, Inc. $FR Stock Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 63.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 33,595 shares of the real estate investment trust’s stock after selling 59,298 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in First Industrial Realty Trust were worth $2,000,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Covestor Ltd increased its position in First Industrial Realty Trust by 250.8% during the third quarter. Covestor Ltd now owns 414 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 296 shares during the period. Trust Co. of Vermont acquired a new stake in First Industrial Realty Trust in the 2nd quarter worth about $39,000. Elevation Wealth Partners LLC raised its stake in First Industrial Realty Trust by 94.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 751 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 364 shares in the last quarter. Persistent Asset Partners Ltd bought a new stake in First Industrial Realty Trust in the 2nd quarter valued at about $70,000. Finally, State of Wyoming bought a new stake in First Industrial Realty Trust in the 2nd quarter valued at about $71,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on FR shares. Royal Bank Of Canada decreased their target price on shares of First Industrial Realty Trust from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, October 30th. JPMorgan Chase & Co. downgraded shares of First Industrial Realty Trust from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $74.00 to $60.00 in a research report on Friday, October 30th. Weiss Ratings downgraded shares of First Industrial Realty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 8th. Citigroup cut their price target on First Industrial Realty Trust from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, October 28th. Finally, Raymond James Financial downgraded First Industrial Realty Trust from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $86.00 to $71.00 in a research report on Friday, October 23rd. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, First Industrial Realty Trust has a consensus rating of “Hold” and an average price target of $64.93.

First Industrial Realty Trust Stock Performance

FR opened at $55.27 on Thursday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.06 and a current ratio of 1.06. First Industrial Realty Trust, Inc. has a 52-week low of $53.27 and a 52-week high of $69.88. The firm has a market cap of $7.33 billion, a P/E ratio of 17.84 and a beta of 1.01. The business’s fifty day moving average is $58.73 and its 200-day moving average is $61.18.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $197.12 million during the quarter, compared to analyst estimates of $196.41 million. During the same period last year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts expect that First Industrial Realty Trust, Inc. will post 3.16 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 19th. Shareholders of record on Thursday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, December 31st. First Industrial Realty Trust’s dividend payout ratio is presently 74.35%.

About First Industrial Realty Trust

First Industrial Realty Trust is a real estate investment trust focused on owning, operating, acquiring and developing industrial properties in the United States. Its portfolio includes warehouses, distribution facilities and other buildings used for manufacturing and logistics. The company serves businesses that need space to store, move or produce goods, with properties in major U.S. industrial and distribution markets. First Industrial was established in 1994 and is headquartered in Chicago. Peter E. Baccile serves as the company’s president and chief executive officer.