Pacer Advisors Inc. reduces 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 – Free Report) 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 about 0.14% of First Industrial Realty Trust worth $8,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC acquired 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 during the last quarter. MQS Management LLC acquired a new stake in shares of First Industrial Realty Trust in the second quarter valued at approximately $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 during the last quarter. Finally, Edgestream Partners LP boosted its holdings in shares of First Industrial Realty Trust by 216.7% in the second quarter. Edgestream Partners LP 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 during the last quarter. 99.85% of shares are held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

Several brokerages 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 boosted 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 increased 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 lifted 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. boosted 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. First Industrial Realty Trust has a consensus rating of “Hold” and an average target price of $56.46, according to MarketBeat.com.

Check out our latest research report on FR

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 – Get Free Report ) last posted 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 company 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. In the same quarter last year, the company earned $0.61 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 company 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 30. This represents a dividend of $1.48 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

(Free Report)

First Industrial Realty Trust, Inc (NYSE: FR) is the leading owner, operator, developer and acquirer of exclusively US logistics properties. Through our fully integrated operating and investment platform, we provide high-quality facilities and industry-leading customer service to multinational corporations and regional firms that are critical to their supply chains.

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