DigitalBridge Group Inc. Sells 142,284 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

DigitalBridge Group Inc. lowered its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 44.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,832 shares of the real estate investment trust’s stock after selling 142,284 shares during the period. DigitalBridge Group Inc. owned approximately 0.13% of First Industrial Realty Trust worth $8,449,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Azzad Asset Management Inc. ADV raised its holdings in First Industrial Realty Trust by 4.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 295 shares during the last quarter. Fortem Financial Group LLC raised its holdings in First Industrial Realty Trust by 4.6% in the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 438 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in First Industrial Realty Trust by 781.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 469 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in First Industrial Realty Trust by 8.5% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 6,607 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 517 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $55.97 on Thursday. The firm has a 50 day moving average of $54.97 and a 200 day moving average of $50.91. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 25.79 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12-month low of $40.44 and a 12-month high of $57.35.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The firm had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 earnings per share. On average, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.62 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be given a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.64%. First Industrial Realty Trust’s payout ratio is currently 68.20%.

Analyst Ratings Changes

FR has been the subject of several recent analyst reports. Mizuho lifted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. 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 report on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. BNP Paribas initiated coverage on shares of First Industrial Realty Trust in a report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price objective for the company. Finally, Scotiabank boosted their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.46.

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.