VIRGINIA RETIREMENT SYSTEMS ET Al Sells 12,800 Shares of First Industrial Realty Trust, Inc. $FR

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 18.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 56,877 shares of the real estate investment trust’s stock after selling 12,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in First Industrial Realty Trust were worth $3,386,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FR. BlackRock Inc. acquired a new position in First Industrial Realty Trust during the 2nd quarter worth approximately $1,021,489,000. Dimensional Fund Advisors LP grew its position in First Industrial Realty Trust by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,025,484 shares of the real estate investment trust’s stock valued at $117,173,000 after acquiring an additional 40,101 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of First Industrial Realty Trust during the second quarter valued at approximately $79,730,000. Artemis Investment Management LLP raised its stake in shares of First Industrial Realty Trust by 0.5% during the third quarter. Artemis Investment Management LLP now owns 1,244,218 shares of the real estate investment trust’s stock valued at $74,081,000 after purchasing an additional 6,732 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of First Industrial Realty Trust by 27.1% during the first quarter. Quantinno Capital Management LP now owns 1,217,721 shares of the real estate investment trust’s stock valued at $70,445,000 after purchasing an additional 259,476 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FR has been the topic of a number of recent research reports. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. UBS Group set a $71.00 price target on shares of First Industrial Realty Trust in a report on Friday, October 23rd. Royal Bank Of Canada lowered their price target on shares of First Industrial Realty Trust from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday. Weiss Ratings downgraded shares of First Industrial Realty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Finally, Wells Fargo & Company cut their price objective on shares of First Industrial Realty Trust from $66.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $65.67.

First Industrial Realty Trust Stock Up 0.6%

FR stock opened at $54.76 on Tuesday. First Industrial Realty Trust, Inc. has a twelve month low of $54.16 and a twelve month high of $69.88. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $7.26 billion, a P/E ratio of 17.64 and a beta of 1.03. The firm has a 50 day simple moving average of $59.83 and a 200-day simple moving average of $61.32.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.38). The company had revenue of $197.12 million during the quarter, compared to the consensus estimate of $196.41 million. First Industrial Realty Trust had a return on equity of 12.60% and a net margin of 46.12%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 EPS. On average, equities research analysts predict that First Industrial Realty Trust, Inc. will post 3.16 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 19th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 74.35%.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.