Kingswood Wealth Advisors LLC Sells 10,410 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Kingswood Wealth Advisors LLC trimmed its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 51.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,998 shares of the real estate investment trust’s stock after selling 10,410 shares during the period. Kingswood Wealth Advisors LLC’s holdings in First Industrial Realty Trust were worth $525,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FR. Norges Bank bought a new position in First Industrial Realty Trust during the fourth quarter valued at about $78,559,000. Frontier Capital Management Co. LLC lifted its holdings in First Industrial Realty Trust by 788.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after purchasing an additional 1,105,286 shares during the last quarter. Centersquare Investment Management LLC boosted its position in First Industrial Realty Trust by 23.6% during the fourth quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock worth $239,728,000 after purchasing an additional 869,676 shares during the period. Lasalle Investment Management Securities LLC grew its holdings in First Industrial Realty Trust by 49.7% during the fourth quarter. Lasalle Investment Management Securities LLC now owns 1,633,051 shares of the real estate investment trust’s stock valued at $86,013,000 after purchasing an additional 541,909 shares during the last quarter. Finally, Crestline Management LP bought a new position in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $26,335,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $47.04 on Thursday. First Industrial Realty Trust, Inc. has a twelve month low of $40.44 and a twelve month high of $55.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $6.23 billion, a P/E ratio of 21.68 and a beta of 1.07. The firm’s 50-day simple moving average is $46.96 and its 200-day simple moving average is $50.62.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.48 annualized dividend and a dividend yield of 3.15%. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Wall Street Analysts Forecast Growth

FR has been the subject of several recent analyst reports. Barclays reaffirmed an “equal weight” rating and set a $53.00 price objective (down from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. JPMorgan Chase & Co. dropped their price objective on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Scotiabank cut their price objective on First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating for the company in a research report on Thursday, May 16th. Wedbush lowered First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $59.00 to $49.00 in a report on Thursday, April 25th. Finally, Mizuho reiterated a “buy” rating and set a $58.00 price target on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $53.42.

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.