London Co. of Virginia Sells 11,673 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

London Co. of Virginia lowered its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 974,130 shares of the real estate investment trust’s stock after selling 11,673 shares during the period. London Co. of Virginia’s holdings in First Industrial Realty Trust were worth $48,833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CIBC Asset Management Inc raised its holdings in First Industrial Realty Trust by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 210 shares in the last quarter. UMB Bank n.a. grew its position in shares of First Industrial Realty Trust by 24.7% in the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 214 shares during the period. Stifel Financial Corp raised its holdings in shares of First Industrial Realty Trust by 0.9% in the 4th quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust’s stock valued at $1,309,000 after purchasing an additional 222 shares during the period. Principal Securities Inc. increased its position in First Industrial Realty Trust by 9.3% during the fourth quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 269 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in First Industrial Realty Trust by 30.7% in the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 292 shares during the period. 99.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FR has been the subject of several research reports. Robert W. Baird cut their price target on First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their target price on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Truist Financial cut their price objective on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Barclays decreased their target price on First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada dropped their price target on First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $49.54 on Monday. The firm’s 50 day simple moving average is $50.47 and its 200 day simple moving average is $52.03. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 22.72 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. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17.

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

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be paid a $0.445 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.59%. First Industrial Realty Trust’s payout ratio is currently 88.12%.

First Industrial Realty Trust Company 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.