Federated Hermes Inc. Cuts Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Federated Hermes Inc. trimmed its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,807 shares of the real estate investment trust’s stock after selling 699 shares during the period. Federated Hermes Inc.’s holdings in First Industrial Realty Trust were worth $894,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cornercap Investment Counsel Inc. boosted its position in First Industrial Realty Trust by 16.6% during the second quarter. Cornercap Investment Counsel Inc. now owns 24,396 shares of the real estate investment trust’s stock valued at $1,159,000 after buying an additional 3,467 shares during the period. American Century Companies Inc. boosted its holdings in First Industrial Realty Trust by 10.0% during the 2nd quarter. American Century Companies Inc. now owns 42,763 shares of the real estate investment trust’s stock valued at $2,032,000 after acquiring an additional 3,884 shares during the period. Texas Permanent School Fund Corp grew its position in First Industrial Realty Trust by 20.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 139,450 shares of the real estate investment trust’s stock worth $6,625,000 after acquiring an additional 23,684 shares during the last quarter. United Services Automobile Association purchased a new position in First Industrial Realty Trust in the 2nd quarter worth approximately $507,000. Finally, Choreo LLC purchased a new position in First Industrial Realty Trust in the 2nd quarter worth approximately $597,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

FR has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Royal Bank of Canada increased their price target on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank increased their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.46.

First Industrial Realty Trust Trading Down 2.0 %

Shares of NYSE FR opened at $55.51 on Monday. The stock has a market cap of $7.35 billion, a P/E ratio of 25.58 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.16 and a quick ratio of 1.16. First Industrial Realty Trust, Inc. has a 1 year low of $40.44 and a 1 year high of $57.35. The firm has a 50-day moving average of $54.68 and a 200 day moving average of $50.83.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. During the same period in the prior year, the firm earned $0.61 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 2.67%. First Industrial Realty Trust’s payout ratio is presently 68.20%.

First Industrial Realty Trust Company 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.