Victory Capital Management Inc. Sells 1,519,785 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Victory Capital Management Inc. lowered its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 69.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 657,976 shares of the real estate investment trust’s stock after selling 1,519,785 shares during the quarter. Victory Capital Management Inc. owned about 0.50% of First Industrial Realty Trust worth $36,833,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FR. Janney Montgomery Scott LLC purchased a new position in shares of First Industrial Realty Trust in the first quarter worth about $230,000. Entropy Technologies LP purchased a new position in First Industrial Realty Trust in the 1st quarter valued at approximately $298,000. Vanguard Group Inc. raised its holdings in First Industrial Realty Trust by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock valued at $1,008,284,000 after acquiring an additional 77,270 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of First Industrial Realty Trust by 4.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,600 shares of the real estate investment trust’s stock worth $715,000 after acquiring an additional 588 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of First Industrial Realty Trust by 163.9% in the first quarter. National Bank of Canada FI now owns 475,000 shares of the real estate investment trust’s stock worth $24,956,000 after acquiring an additional 295,000 shares during the period. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Price Performance

FR opened at $52.44 on Friday. The business’s fifty day simple moving average is $54.61 and its 200 day simple moving average is $51.81. First Industrial Realty Trust, Inc. has a 52 week low of $44.35 and a 52 week high of $57.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market cap of $6.94 billion, a PE ratio of 22.51 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. First Industrial Realty Trust’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. As a group, research analysts expect that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is currently 63.52%.

Wall Street Analysts Forecast Growth

FR has been the topic of a number of recent research reports. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a report on Tuesday, August 13th. Barclays increased their price target on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Wells Fargo & Company boosted 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 increased their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group boosted their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Friday, July 26th. One 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.92.

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.