Citigroup Inc. Has $3.94 Million Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Citigroup Inc. reduced its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 33.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,414 shares of the real estate investment trust’s stock after selling 35,904 shares during the period. Citigroup Inc. owned about 0.05% of First Industrial Realty Trust worth $3,942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in First Industrial Realty Trust by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock valued at $122,182,000 after buying an additional 81,826 shares during the period. Victory Capital Management Inc. grew its position in shares of First Industrial Realty Trust by 7.3% in the second quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock valued at $103,465,000 after purchasing an additional 148,996 shares during the last quarter. Dimensional Fund Advisors LP grew 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 valued at $96,133,000 after purchasing an additional 118,239 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of First Industrial Realty Trust by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 1,321,315 shares of the real estate investment trust’s stock valued at $62,776,000 after purchasing an additional 11,522 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of First Industrial Realty Trust by 2.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,297,240 shares of the real estate investment trust’s stock valued at $61,632,000 after purchasing an additional 26,353 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

FR stock opened at $52.76 on Wednesday. First Industrial Realty Trust, Inc. has a 52-week low of $45.10 and a 52-week high of $57.35. The business has a 50-day simple moving average of $53.95 and a two-hundred day simple moving average of $52.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $6.98 billion, a P/E ratio of 22.64 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The firm had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. During the same quarter last year, the firm earned $0.62 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Research analysts expect that First Industrial Realty Trust, Inc. will post 2.63 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 Tuesday, January 21st. Investors of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.81%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FR shares. Barclays reduced their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Wells Fargo & Company increased their price target on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Mizuho increased their price target on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Wolfe Research raised 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 research report on Tuesday, August 13th. Finally, Scotiabank increased their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.83.

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.