Mutual of America Capital Management LLC Decreases Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Mutual of America Capital Management LLC lowered its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,772 shares of the real estate investment trust’s stock after selling 3,043 shares during the period. Mutual of America Capital Management LLC owned 0.06% of First Industrial Realty Trust worth $3,600,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in First Industrial Realty Trust by 0.4% during the first quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock worth $1,008,284,000 after purchasing an additional 77,270 shares in the last quarter. Centersquare Investment Management LLC lifted its position in First Industrial Realty Trust by 8.4% in the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after acquiring an additional 380,805 shares during the last quarter. Nomura Holdings Inc. boosted its stake in First Industrial Realty Trust by 14.9% in the fourth quarter. Nomura Holdings Inc. now owns 3,110,986 shares of the real estate investment trust’s stock valued at $163,856,000 after acquiring an additional 402,744 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of First Industrial Realty Trust by 7.3% during the second quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock worth $103,465,000 after purchasing an additional 148,996 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of First Industrial Realty Trust by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock worth $96,133,000 after purchasing an additional 118,239 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

FR has been the topic of a number of research reports. BNP Paribas assumed coverage on First Industrial Realty Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price target on the stock. Royal Bank of Canada raised their target price on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target 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. Truist Financial raised their price objective on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.46.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $55.51 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $54.68 and its two-hundred day moving average is $50.83. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 25.58 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12-month low of $40.44 and a 12-month high of $57.35.

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

First Industrial Realty Trust Announces Dividend

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

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.