Bank of New York Mellon Corp Sells 8,820 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Bank of New York Mellon Corp decreased its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,147,187 shares of the real estate investment trust's stock after selling 8,820 shares during the period. Bank of New York Mellon Corp owned 0.87% of First Industrial Realty Trust worth $61,902,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FR. Bessemer Group Inc. increased its stake in 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 buying an additional 225 shares during the last quarter. Alpine Bank Wealth Management bought a new position in shares of First Industrial Realty Trust during the 1st quarter valued at approximately $26,000. Parallel Advisors LLC grew its position in shares of First Industrial Realty Trust by 285.1% during the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 821 shares during the period. Fifth Third Bancorp grew its position in shares of First Industrial Realty Trust by 22.2% during the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 236 shares during the period. Finally, FIL Ltd grew its position in shares of First Industrial Realty Trust by 32.8% during the 4th quarter. FIL Ltd now owns 1,449 shares of the real estate investment trust's stock valued at $73,000 after acquiring an additional 358 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

FR traded up $0.30 on Friday, hitting $49.39. The company's stock had a trading volume of 1,172,734 shares, compared to its average volume of 1,209,096. The company's 50 day simple moving average is $49.33 and its 200-day simple moving average is $51.03. The firm has a market cap of $6.54 billion, a P/E ratio of 24.45 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.87.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 39.04% and a return on equity of 9.82%. The firm had revenue of $177.07 million during the quarter, compared to the consensus estimate of $176.98 million. Analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.60%. The ex-dividend date is Monday, June 30th. First Industrial Realty Trust's payout ratio is 88.12%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Truist Financial reduced their target price on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Wells Fargo & Company reduced their target price on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. JPMorgan Chase & Co. reduced 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 research report on Monday, April 28th. Scotiabank increased their target price on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Finally, Barclays reduced their target price 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 report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average 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.