Hsbc Holdings PLC Has $33.50 Million Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Hsbc Holdings PLC lowered its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 17.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 711,543 shares of the real estate investment trust’s stock after selling 153,786 shares during the period. Hsbc Holdings PLC owned 0.54% of First Industrial Realty Trust worth $33,503,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Farmers & Merchants Investments Inc. lifted its holdings in First Industrial Realty Trust by 781.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 469 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Mather Group LLC. acquired a new position in shares of First Industrial Realty Trust in the 1st quarter valued at about $50,000. C M Bidwell & Associates Ltd. boosted its position in shares of First Industrial Realty Trust by 119.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 765 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of First Industrial Realty Trust during the 4th quarter valued at about $82,000. 99.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FR. JPMorgan Chase & Co. boosted their price target on 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. Wells Fargo & Company boosted their target price on shares of 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. The Goldman Sachs Group increased their target price on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted 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 note on Tuesday, July 30th. Finally, Mizuho increased their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.46.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $55.48 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s 50-day simple moving average is $54.68 and its 200 day simple moving average is $50.86. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 25.57 and a beta of 1.08. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last announced 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 company had revenue of $164.10 million for the quarter, compared to analysts’ expectations of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. As a group, research analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be issued a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 2.67%. First Industrial Realty Trust’s dividend payout ratio 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.