Cubist Systematic Strategies LLC Has $1.19 Million Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Cubist Systematic Strategies LLC lowered its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 88.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 25,113 shares of the real estate investment trust’s stock after selling 194,471 shares during the period. Cubist Systematic Strategies LLC’s holdings in First Industrial Realty Trust were worth $1,193,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FR. Farmers & Merchants Investments Inc. grew its holdings in First Industrial Realty Trust by 781.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 469 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Mather Group LLC. bought a new position in shares of First Industrial Realty Trust during the first quarter valued at about $50,000. C M Bidwell & Associates Ltd. boosted its holdings in First Industrial Realty Trust by 119.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in First Industrial Realty Trust in the 4th quarter worth about $82,000. 99.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FR. Mizuho lifted their price target on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Wells Fargo & Company boosted their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report 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. Wolfe Research raised shares of 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.46.

First Industrial Realty Trust Trading Down 0.3 %

Shares of FR opened at $54.93 on Thursday. The business’s 50-day moving average price is $55.14 and its 200-day moving average price is $50.98. 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, Inc. has a twelve month low of $40.44 and a twelve month high of $57.35. The stock has a market cap of $7.27 billion, a PE ratio of 25.31 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results 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 firm 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 business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.69%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 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.