First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lessened its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 34.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,584 shares of the real estate investment trust’s stock after selling 44,445 shares during the quarter. AQR Capital Management LLC owned about 0.06% of First Industrial Realty Trust worth $3,989,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC boosted its stake in First Industrial Realty Trust by 788.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after buying an additional 1,105,286 shares during the period. Land & Buildings Investment Management LLC raised its position in First Industrial Realty Trust by 256.4% in the second quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust’s stock valued at $38,398,000 after purchasing an additional 581,472 shares during the period. Russell Investments Group Ltd. boosted its position in shares of First Industrial Realty Trust by 328.4% during the first quarter. Russell Investments Group Ltd. now owns 750,189 shares of the real estate investment trust’s stock worth $39,413,000 after buying an additional 575,057 shares during the period. Bank of Montreal Can grew its stake in shares of First Industrial Realty Trust by 442.8% in the second quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust’s stock valued at $26,570,000 after buying an additional 456,124 shares in the last quarter. Finally, Nomura Holdings Inc. raised its holdings in shares of First Industrial Realty Trust by 14.9% in the 4th quarter. Nomura Holdings Inc. now owns 3,110,986 shares of the real estate investment trust’s stock valued at $163,856,000 after buying an additional 402,744 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of FR opened at $54.77 on Friday. The firm has a fifty day moving average price of $55.24 and a 200 day moving average price of $51.05. The stock has a market cap of $7.25 billion, a PE ratio of 25.24 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 1-year low of $40.44 and a 1-year 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.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. As a group, sell-side analysts anticipate that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The firm 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 $0.37 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.70%. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FR. Wolfe Research upgraded shares of 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 note on Tuesday, August 13th. Scotiabank increased their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Truist Financial raised their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their price objective 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. Finally, The Goldman Sachs Group lifted their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.46.

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.