Gotham Asset Management LLC Sells 11,082 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Gotham Asset Management LLC lessened its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 20.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 43,271 shares of the real estate investment trust’s stock after selling 11,082 shares during the period. Gotham Asset Management LLC’s holdings in First Industrial Realty Trust were worth $2,169,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of First Industrial Realty Trust by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust’s stock valued at $962,039,000 after acquiring an additional 304,589 shares during the period. Invesco Ltd. raised its stake in First Industrial Realty Trust by 80.2% in the fourth quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock valued at $214,401,000 after purchasing an additional 1,903,164 shares in the last quarter. Geode Capital Management LLC raised its stake in First Industrial Realty Trust by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust’s stock valued at $124,492,000 after purchasing an additional 14,298 shares in the last quarter. Alliancebernstein L.P. raised its stake in First Industrial Realty Trust by 5.7% in the fourth quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust’s stock valued at $121,922,000 after purchasing an additional 130,819 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in First Industrial Realty Trust by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust’s stock valued at $110,581,000 after purchasing an additional 23,280 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

FR has been the topic of a number of recent analyst reports. Scotiabank raised their target price on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Truist Financial decreased their price target on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. The Goldman Sachs Group decreased their price target on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Finally, Robert W. Baird decreased their price target on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $56.58.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $50.90 on Friday. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The stock has a market cap of $6.74 billion, a PE ratio of 23.35 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The company’s fifty day moving average price is $49.96 and its 200-day moving average price is $51.98.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). The business had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, equities analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust’s payout ratio is 88.12%.

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.