Quantitative Systematic Strategies LLC Lowers Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Quantitative Systematic Strategies LLC lessened its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 64.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,624 shares of the real estate investment trust’s stock after selling 33,845 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in First Industrial Realty Trust were worth $973,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. FFT Wealth Management LLC acquired a new stake in shares of First Industrial Realty Trust during the second quarter worth about $48,000. Berman Capital Advisors LLC lifted its position in shares of First Industrial Realty Trust by 135.5% during the first quarter. Berman Capital Advisors LLC now owns 1,267 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 729 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of First Industrial Realty Trust during the first quarter worth about $73,000. SRS Capital Advisors Inc. acquired a new stake in First Industrial Realty Trust in the second quarter valued at approximately $89,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in First Industrial Realty Trust by 29.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,593 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 597 shares in the last quarter. 97.37% of the stock is owned by institutional investors.

Shares of NYSE:FR traded down $0.21 during midday trading on Monday, hitting $53.16. 7,139 shares of the stock were exchanged, compared to its average volume of 1,043,346. The stock has a market cap of $6.86 billion, a P/E ratio of 29.49 and a beta of 0.87. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a twelve month low of $38.85 and a twelve month high of $56.90. The company has a 50 day moving average price of $54.87 and a 200-day moving average price of $51.28.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Tuesday, July 20th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.07). First Industrial Realty Trust had a net margin of 50.60% and a return on equity of 11.96%. The firm had revenue of $117.40 million during the quarter, compared to analyst estimates of $115.71 million. During the same period in the previous year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that First Industrial Realty Trust, Inc. will post 1.93 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 18th. Shareholders of record on Thursday, September 30th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, September 29th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 58.70%.

FR has been the topic of several recent analyst reports. Scotiabank upgraded shares of First Industrial Realty Trust from a “sector underperform” rating to a “sector perform” rating and increased their price target for the company from $41.00 to $52.00 in a research note on Tuesday, May 25th. Mizuho restated a “buy” rating and set a $54.00 target price on shares of First Industrial Realty Trust in a research report on Wednesday, July 14th. Wolfe Research began coverage on shares of First Industrial Realty Trust in a research report on Monday, June 14th. They set a “peer perform” rating and a $54.00 target price on the stock. Truist Securities raised their target price on shares of First Industrial Realty Trust from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Saturday, July 31st. Finally, Royal Bank of Canada lifted their price objective on shares of First Industrial Realty Trust from $58.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust presently has an average rating of “Buy” and an average target price of $52.68.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc operates as a real estate investment trust. It engages in the ownership, management, acquisition, sale, development and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties.

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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