Amalgamated Bank Sells 5,283 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Amalgamated Bank reduced its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 7.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,992 shares of the real estate investment trust’s stock after selling 5,283 shares during the period. Amalgamated Bank owned 0.05% of First Industrial Realty Trust worth $3,183,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Edgestream Partners L.P. lifted its position in shares of First Industrial Realty Trust by 216.7% in the second quarter. Edgestream Partners L.P. now owns 106,331 shares of the real estate investment trust’s stock worth $5,052,000 after buying an additional 72,757 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of First Industrial Realty Trust by 77.7% in the second quarter. Renaissance Technologies LLC now owns 143,400 shares of the real estate investment trust’s stock worth $6,813,000 after buying an additional 62,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of First Industrial Realty Trust by 6.2% in 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 buying an additional 118,239 shares in the last quarter. Envestnet Asset Management Inc. raised its position in First Industrial Realty Trust by 4.5% during the second quarter. Envestnet Asset Management Inc. now owns 215,455 shares of the real estate investment trust’s stock valued at $10,236,000 after purchasing an additional 9,188 shares during the period. Finally, Cornercap Investment Counsel Inc. raised 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 purchasing an additional 3,467 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Up 0.5 %

Shares of NYSE:FR opened at $55.80 on Tuesday. First Industrial Realty Trust, Inc. has a 52-week low of $40.44 and a 52-week high of $57.35. The stock has a market cap of $7.38 billion, a P/E ratio of 25.71 and a beta of 1.08. The business’s 50 day moving average is $54.77 and its 200 day moving average is $50.85. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust (NYSE:FR) last announced 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). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The firm had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. During the same period last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 2.65%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FR shares. Truist Financial upped their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company upped 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 report on Wednesday, August 28th. BNP Paribas initiated coverage on First Industrial Realty Trust in a report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.46.

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.