Cubist Systematic Strategies LLC Trims Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Cubist Systematic Strategies LLC decreased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 88.6% in the second quarter, HoldingsChannel reports. The firm owned 25,113 shares of the real estate investment trust’s stock after selling 194,471 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in First Industrial Realty Trust were worth $1,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of First Industrial Realty Trust by 0.4% during the first quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock valued at $1,008,284,000 after buying an additional 77,270 shares during the period. Centersquare Investment Management LLC grew its holdings in shares of First Industrial Realty Trust by 8.4% during the 1st quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock worth $259,143,000 after acquiring an additional 380,805 shares during the period. Nomura Holdings Inc. raised its position in shares of First Industrial Realty Trust by 14.9% in the 4th quarter. Nomura Holdings Inc. now owns 3,110,986 shares of the real estate investment trust’s stock worth $163,856,000 after acquiring an additional 402,744 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of First Industrial Realty Trust by 7.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock valued at $103,465,000 after purchasing an additional 148,996 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of First Industrial Realty Trust by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock valued at $96,133,000 after purchasing an additional 118,239 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

FR opened at $54.93 on Thursday. The company’s 50-day simple moving average is $55.14 and its two-hundred day simple moving average is $50.98. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $7.27 billion, a P/E ratio of 25.31 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 52-week low of $40.44 and a 52-week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data 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). First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The company had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts predict that First Industrial Realty Trust, Inc. will post 2.62 EPS 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. Stockholders of record on Monday, September 30th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.69%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 68.20%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FR. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research report on Tuesday, August 13th. Wells Fargo & Company lifted their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Mizuho upped their price objective 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. raised their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.