Alberta Investment Management Corp Decreases Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Key Points

• Alberta Investment Management Corp reduced its stake in First Industrial Realty Trust by 20.1%, selling 99,129 shares and owning 393,302 shares worth approximately $21.2 million.
• Several institutional investors, including Bessemer Group Inc. and Parallel Advisors LLC, significantly increased their holdings in First Industrial Realty Trust during the same quarter.
• First Industrial Realty Trust's stock price decreased by 1.2%, with a current price of $48.70 and a market cap of $6.45 billion; analysts predict an EPS of 2.89 for the current year.

Alberta Investment Management Corp lowered its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 20.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 393,302 shares of the real estate investment trust's stock after selling 99,129 shares during the quarter. Alberta Investment Management Corp owned 0.30% of First Industrial Realty Trust worth $21,223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FR. Bessemer Group Inc. lifted its holdings in shares of First Industrial Realty Trust by 93.0% in the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 225 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in First Industrial Realty Trust during the first quarter valued at approximately $26,000. Parallel Advisors LLC lifted its stake in shares of First Industrial Realty Trust by 285.1% in the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 821 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of First Industrial Realty Trust in the 1st quarter valued at approximately $69,000. Finally, Fifth Third Bancorp lifted its stake in shares of First Industrial Realty Trust by 22.2% in the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 236 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Down 1.2%

Shares of NYSE:FR opened at $48.70 on Friday. The business's 50 day moving average is $49.28 and its 200 day moving average is $51.02. The stock has a market cap of $6.45 billion, a P/E ratio of 23.76 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.04. The business had revenue of $180.16 million for the quarter, compared to the consensus estimate of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%. The business's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. Sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial cut their target price on 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. Royal Bank Of Canada reduced their target price on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. JPMorgan Chase & Co. lowered their target price on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Robert W. Baird cut their price target on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, Barclays decreased their price objective on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $55.91.

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.

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