Wellington Management Group LLP Trims Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Wellington Management Group LLP reduced its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 20.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 242,154 shares of the real estate investment trust’s stock after selling 63,811 shares during the quarter. Wellington Management Group LLP owned approximately 0.18% of First Industrial Realty Trust worth $13,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in First Industrial Realty Trust in the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC grew 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 valued at $30,000 after purchasing an additional 200 shares during the period. UMB Bank n.a. increased its position in First Industrial Realty Trust by 116.2% during the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 466 shares during the last quarter. Blue Trust Inc. raised its stake in First Industrial Realty Trust by 201.9% during the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 636 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of First Industrial Realty Trust by 77.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 417 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted 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 report on Wednesday, August 28th. Mizuho increased 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 research report on Thursday, September 5th. Scotiabank lifted their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Barclays decreased their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.83.

First Industrial Realty Trust Stock Up 1.3 %

Shares of First Industrial Realty Trust stock opened at $52.80 on Friday. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $57.35. The company has a market capitalization of $6.99 billion, a PE ratio of 22.66 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50-day moving average of $53.44 and a 200-day moving average of $52.64.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $167.60 million for the quarter, compared to the consensus estimate of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. First Industrial Realty Trust’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. As a group, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.80%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 63.52%.

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.