Jefferies Financial Group Inc. Sells 182,400 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Key Points

• Jefferies Financial Group Inc. significantly reduced its holdings in First Industrial Realty Trust by 86.9%, selling 182,400 shares during the first quarter, leaving them with 27,600 shares valued at approximately $1.49 million.
• Despite Jefferies' sell-off, other investors like Bessemer Group Inc. and Cetera Investment Advisers have increased their positions, indicating continued institutional support for the stock.
• Analysts have recently adjusted their target prices for First Industrial Realty Trust, with estimates ranging from $51.00 to $57.00, while the stock currently holds an average rating of "Hold" with a consensus price target of $55.91.

Jefferies Financial Group Inc. lessened its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 86.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,600 shares of the real estate investment trust's stock after selling 182,400 shares during the quarter. Jefferies Financial Group Inc.'s holdings in First Industrial Realty Trust were worth $1,489,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake 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 acquiring an additional 225 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in First Industrial Realty Trust during the first quarter worth about $26,000. Parallel Advisors LLC raised its holdings in First Industrial Realty Trust by 285.1% in the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock worth $60,000 after buying an additional 821 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in First Industrial Realty Trust in the first quarter worth about $69,000. Finally, Fifth Third Bancorp raised its holdings in First Industrial Realty Trust by 22.2% in the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock worth $70,000 after buying an additional 236 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

Analyst Ratings Changes

FR has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased 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. Scotiabank increased their price objective on shares of 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 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 note on Monday, May 5th. Royal Bank Of Canada cut their price objective 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $55.91.

First Industrial Realty Trust Trading Up 0.3%

Shares of First Industrial Realty Trust stock traded up $0.15 during mid-day trading on Thursday, hitting $48.31. 347,133 shares of the stock were exchanged, compared to its average volume of 1,294,616. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 23.57 and a beta of 1.04. The company has a 50-day simple moving average of $49.26 and a 200 day simple moving average of $50.95. 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 released its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. The business had revenue of $180.16 million for the quarter, compared to analysts' expectations of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. Research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

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.