First Industrial Realty Trust, Inc. (NYSE:FR) is Land & Buildings Investment Management LLC’s 4th Largest Position

Land & Buildings Investment Management LLC trimmed its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 696,441 shares of the real estate investment trust’s stock after selling 127,521 shares during the period. First Industrial Realty Trust comprises about 7.1% of Land & Buildings Investment Management LLC’s holdings, making the stock its 4th biggest holding. Land & Buildings Investment Management LLC owned 0.53% of First Industrial Realty Trust worth $34,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of FR. UMB Bank n.a. raised its stake in shares of First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 214 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 747 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of First Industrial Realty Trust by 30.7% during the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 292 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in First Industrial Realty Trust by 73.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 575 shares during the last quarter. Finally, FIL Ltd grew its holdings in First Industrial Realty Trust by 32.8% in the 4th quarter. FIL Ltd now owns 1,449 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 358 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FR has been the topic of several recent research reports. Scotiabank decreased their price objective on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. cut their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Royal Bank of Canada dropped their target price on First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Truist Financial dropped their target price on First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Finally, Barclays dropped their price objective on First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average price target of $56.50.

First Industrial Realty Trust Stock Performance

FR stock opened at $49.54 on Monday. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average of $50.47 and a 200-day moving average of $52.03. The firm has a market cap of $6.56 billion, a PE ratio of 22.72 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). The business had revenue of $177.07 million during the quarter, compared to analysts’ expectations of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 88.12%.

First Industrial Realty Trust 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.