Victory Capital Management Inc. Decreases Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Victory Capital Management Inc. lowered its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 69.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 657,976 shares of the real estate investment trust’s stock after selling 1,519,785 shares during the period. Victory Capital Management Inc.’s holdings in First Industrial Realty Trust were worth $36,833,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FR. Entropy Technologies LP purchased a new position in shares of First Industrial Realty Trust in the third quarter worth $606,000. Wolverine Asset Management LLC increased its position in shares of First Industrial Realty Trust by 48.7% in the third quarter. Wolverine Asset Management LLC now owns 29,733 shares of the real estate investment trust’s stock valued at $1,664,000 after acquiring an additional 9,733 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of First Industrial Realty Trust during the third quarter valued at about $313,000. Covestor Ltd boosted its holdings in shares of First Industrial Realty Trust by 188.7% during the third quarter. Covestor Ltd now owns 1,484 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 970 shares during the period. Finally, Atria Investments Inc grew its stake in shares of First Industrial Realty Trust by 10.3% in the third quarter. Atria Investments Inc now owns 8,421 shares of the real estate investment trust’s stock worth $471,000 after purchasing an additional 783 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho upped their price target on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Barclays upped their target price on First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. The Goldman Sachs Group lifted their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. Wells Fargo & Company upped their price objective on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Finally, Scotiabank lifted their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and an average target price of $57.92.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $52.44 on Friday. First Industrial Realty Trust, Inc. has a one year low of $44.35 and a one year high of $57.35. The company’s 50-day simple moving average is $54.61 and its 200 day simple moving average is $51.81. The firm has a market capitalization of $6.94 billion, a P/E ratio of 22.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share 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%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is presently 63.52%.

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.