Algert Global LLC Sells 5,770 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Algert Global LLC lessened its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 158,277 shares of the real estate investment trust’s stock after selling 5,770 shares during the period. Algert Global LLC’s holdings in First Industrial Realty Trust were worth $8,860,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC purchased a new stake in shares of First Industrial Realty Trust during the third quarter worth about $496,000. Charles Schwab Investment Management Inc. increased its stake in First Industrial Realty Trust by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock valued at $122,182,000 after purchasing an additional 81,826 shares in the last quarter. Landscape Capital Management L.L.C. raised its holdings in shares of First Industrial Realty Trust by 171.7% in the third quarter. Landscape Capital Management L.L.C. now owns 14,082 shares of the real estate investment trust’s stock worth $788,000 after buying an additional 8,900 shares during the last quarter. Commerce Bank acquired a new stake in shares of First Industrial Realty Trust during the third quarter worth $4,817,000. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of First Industrial Realty Trust by 4.7% during the third quarter. Segall Bryant & Hamill LLC now owns 307,840 shares of the real estate investment trust’s stock valued at $17,233,000 after buying an additional 13,744 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

FR opened at $53.75 on Friday. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 23.07 and a beta of 1.08. The firm’s fifty day simple moving average is $54.35 and its two-hundred day simple moving average is $51.99. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 52-week low of $45.02 and a 52-week high of $57.35.

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. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. During the same period in the previous year, the firm posted $0.62 EPS. First Industrial Realty Trust’s revenue was up 8.1% compared to the same quarter last year. Equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.75%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is currently 63.52%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays dropped their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. JPMorgan Chase & Co. upped their price target on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Truist Financial lifted their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada lifted their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.83.

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.