Bank of New York Mellon Corp Decreases Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Bank of New York Mellon Corp decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 0.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,147,187 shares of the real estate investment trust's stock after selling 8,820 shares during the quarter. Bank of New York Mellon Corp owned 0.87% of First Industrial Realty Trust worth $61,902,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FR. Bessemer Group Inc. increased its position in First Industrial Realty Trust by 93.0% during the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 225 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in First Industrial Realty Trust during the 1st quarter worth approximately $26,000. Parallel Advisors LLC increased its position in 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 worth $60,000 after purchasing an additional 821 shares in the last quarter. Fifth Third Bancorp increased its position in 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 worth $70,000 after purchasing an additional 236 shares in the last quarter. Finally, FIL Ltd increased its position in 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 worth $73,000 after purchasing an additional 358 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Stock Down 1.3%

NYSE FR traded down $0.67 on Tuesday, hitting $49.07. 1,219,494 shares of the company were exchanged, compared to its average volume of 1,214,603. The company has a market cap of $6.50 billion, a PE ratio of 24.29 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 stock has a fifty day moving average of $49.33 and a 200-day moving average of $51.03. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87.

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

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be issued a $0.445 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.63%. First Industrial Realty Trust's dividend payout ratio is currently 88.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FR shares. 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 on the stock in a report on Monday, May 19th. The Goldman Sachs Group reduced their target price on shares of 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 reduced 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 report on Wednesday, April 30th. Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Truist Financial reduced their target price on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $55.91.

First Industrial Realty Trust 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.