First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by Alberta Investment Management Corp

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 trimmed its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 20.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.30% of First Industrial Realty Trust worth $21,223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its holdings in First Industrial Realty Trust by 93.0% during the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after buying an additional 225 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in First Industrial Realty Trust during the first quarter valued at approximately $26,000. Parallel Advisors LLC lifted its position in First Industrial Realty Trust by 285.1% during the first 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 worth approximately $69,000. Finally, Fifth Third Bancorp lifted its holdings 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 worth $70,000 after acquiring an additional 236 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Up 0.8%

First Industrial Realty Trust stock traded up $0.39 during midday trading on Tuesday, reaching $48.55. 404,515 shares of the stock traded hands, compared to its average volume of 1,302,341. The company has a 50-day simple moving average of $49.28 and a two-hundred day simple moving average of $50.99. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The firm has a market cap of $6.43 billion, a PE ratio of 23.66 and a beta of 1.04. The company has a current ratio of 1.04, a quick 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 earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04. The firm had revenue of $180.16 million during the quarter, compared to analysts' expectations of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. Research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FR shares. The Goldman Sachs Group lowered their price target on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Truist Financial cut 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. Barclays lowered their target price on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Robert W. Baird lowered their price objective on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their target price on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $55.91.

First Industrial Realty Trust Company Profile

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.