Pacer Advisors Inc. Lowers Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Pacer Advisors Inc. reduced its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 188,243 shares of the real estate investment trust’s stock after selling 6,378 shares during the period. Pacer Advisors Inc. owned approximately 0.14% of First Industrial Realty Trust worth $8,943,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Intech Investment Management LLC purchased a new stake in shares of First Industrial Realty Trust in the second quarter valued at about $1,922,000. Inspire Investing LLC boosted its holdings in shares of First Industrial Realty Trust by 9.0% in the second 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 in the last quarter. MQS Management LLC purchased a new stake in shares of First Industrial Realty Trust in the second quarter valued at about $425,000. XTX Topco Ltd boosted its holdings in shares of 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 valued at $647,000 after acquiring an additional 2,597 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its holdings 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 valued at $5,052,000 after acquiring an additional 72,757 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FR. BNP Paribas assumed coverage on shares of First Industrial Realty Trust in a report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 target price on the stock. Truist Financial raised their price objective on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Wells Fargo & Company raised their price objective on shares of 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 shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their price objective 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Hold” and an average target price of $56.46.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $55.80 on Tuesday. The company has a market cap of $7.38 billion, a PE ratio of 25.71 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12 month low of $40.44 and a 12 month high of $57.35. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.16 and a quick ratio of 1.16. The company has a 50-day simple moving average of $54.77 and a 200-day simple moving average of $50.85.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The firm had revenue of $164.10 million for 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share. On average, equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.62 earnings per share 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. Investors 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 dividend on an annualized basis and a yield of 2.65%. First Industrial Realty Trust’s payout ratio is 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.