First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 622,535 shares of the real estate investment trust's stock after selling 41,870 shares during the period. Bank of America Corp DE owned about 0.47% of First Industrial Realty Trust worth $31,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FR. Proficio Capital Partners LLC acquired a new stake in First Industrial Realty Trust in the fourth quarter valued at $1,463,000. Barclays PLC grew its position in First Industrial Realty Trust by 109.7% during the fourth quarter. Barclays PLC now owns 274,968 shares of the real estate investment trust's stock worth $13,783,000 after buying an additional 143,857 shares during the period. Exchange Traded Concepts LLC increased its holdings in First Industrial Realty Trust by 13.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust's stock valued at $142,000 after buying an additional 331 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of First Industrial Realty Trust by 6.2% during the 4th quarter. Victory Capital Management Inc. now owns 698,710 shares of the real estate investment trust's stock valued at $35,026,000 after acquiring an additional 40,734 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of First Industrial Realty Trust by 485.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 32,745 shares of the real estate investment trust's stock valued at $1,642,000 after acquiring an additional 27,150 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Down 0.9%

Shares of NYSE FR traded down $0.45 during midday trading on Thursday, reaching $48.26. 60,053 shares of the stock were exchanged, compared to its average volume of 1,132,135. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The stock has a 50 day moving average price of $49.55 and a 200-day moving average price of $51.91. The company has a market capitalization of $6.39 billion, a P/E ratio of 22.14 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The business had revenue of $177.07 million during the quarter, compared to analyst estimates of $176.98 million. Equities research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust's payout ratio is 88.12%.

Wall Street Analyst Weigh In

FR has been the topic of a number of research reports. The Goldman Sachs Group lowered their price target on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Barclays lowered their target price on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Scotiabank lifted their price target on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Truist Financial decreased their price objective on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Robert W. Baird dropped their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.

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.