Magnetar Financial LLC Sells 75,768 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Magnetar Financial LLC trimmed its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 88.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 9,579 shares of the real estate investment trust’s stock after selling 75,768 shares during the quarter. Magnetar Financial LLC’s holdings in First Industrial Realty Trust were worth $455,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FR. Thrivent Financial for Lutherans grew its stake in shares of First Industrial Realty Trust by 33.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 168,597 shares of the real estate investment trust’s stock valued at $8,010,000 after acquiring an additional 42,580 shares during the period. Intech Investment Management LLC bought a new position in shares of First Industrial Realty Trust during the 2nd quarter valued at approximately $1,922,000. Inspire Investing LLC boosted its position in shares of First Industrial Realty Trust by 9.0% during the 2nd quarter. Inspire Investing LLC now owns 7,436 shares of the real estate investment trust’s stock valued at $353,000 after acquiring an additional 616 shares during the last quarter. MQS Management LLC bought a new position in shares of First Industrial Realty Trust during the 2nd quarter valued at approximately $425,000. Finally, XTX Topco Ltd lifted its position in First Industrial Realty Trust by 23.5% in the second quarter. XTX Topco Ltd now owns 13,627 shares of the real estate investment trust’s stock worth $647,000 after buying an additional 2,597 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FR has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Friday, July 26th. Wells Fargo & Company raised their price target 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. Mizuho raised their price objective 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. BNP Paribas assumed coverage on First Industrial Realty Trust in a research report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised 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 investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.46.

First Industrial Realty Trust Stock Up 0.9 %

Shares of FR opened at $56.32 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. First Industrial Realty Trust, Inc. has a one year low of $40.44 and a one year high of $57.35. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 25.95 and a beta of 1.08. The stock has a 50 day moving average price of $54.88 and a 200 day moving average price of $50.87.

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 for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The company had revenue of $164.10 million for the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.61 EPS. Equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.62 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) 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.