Vanguard Personalized Indexing Management LLC Reduces Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Vanguard Personalized Indexing Management LLC trimmed its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 16.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,564 shares of the real estate investment trust’s stock after selling 1,271 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in First Industrial Realty Trust were worth $312,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Centersquare Investment Management LLC increased its position in shares of First Industrial Realty Trust by 8.4% during the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock worth $259,143,000 after purchasing an additional 380,805 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in First Industrial Realty Trust by 66.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 41,720 shares of the real estate investment trust’s stock valued at $2,197,000 after buying an additional 16,652 shares in the last quarter. Cibc World Markets Corp purchased a new stake in First Industrial Realty Trust in the 4th quarter valued at $11,808,000. Frontier Capital Management Co. LLC grew its holdings in First Industrial Realty Trust by 788.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock valued at $65,598,000 after buying an additional 1,105,286 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in First Industrial Realty Trust in the 2nd quarter valued at $2,824,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

FR opened at $56.04 on Friday. The stock’s 50-day moving average price is $55.08 and its 200 day moving average price is $50.96. First Industrial Realty Trust, Inc. has a 12-month low of $40.44 and a 12-month high of $57.35. 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 cap of $7.42 billion, a price-to-earnings ratio of 25.82 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The firm had revenue of $164.10 million for the quarter, compared to analyst estimates of $163.48 million. During the same period in the previous year, the company posted $0.61 EPS. First Industrial Realty Trust’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.64%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s payout ratio is 68.20%.

Analysts Set New Price Targets

Several brokerages have issued reports on FR. BNP Paribas began coverage on First Industrial Realty Trust in a report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 target price for the company. Truist Financial upped their target price on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 5th. Mizuho upped their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Wells Fargo & Company upped their price target on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Royal Bank of Canada upped their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.46.

About First Industrial Realty Trust

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.