KBC Group NV Decreases Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

KBC Group NV reduced its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 90.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,697 shares of the real estate investment trust's stock after selling 53,960 shares during the quarter. KBC Group NV's holdings in First Industrial Realty Trust were worth $307,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FR. Bessemer Group Inc. grew its stake in shares of 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 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 first quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in shares of 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 buying an additional 821 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of First Industrial Realty Trust by 22.2% during the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 236 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of First Industrial Realty Trust by 73.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust's stock valued at $68,000 after buying an additional 575 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Down 0.5%

Shares of FR traded down $0.26 during trading hours on Wednesday, hitting $48.27. The company had a trading volume of 1,090,426 shares, compared to its average volume of 1,205,544. The company has a market capitalization of $6.39 billion, a PE ratio of 23.90 and a beta of 1.07. 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, Inc. has a one year low of $40.31 and a one year high of $58.17. The company's fifty day moving average price is $49.31 and its two-hundred day moving average price is $51.05.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released 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). The company had revenue of $177.07 million during the quarter, compared to the consensus estimate of $176.98 million. First Industrial Realty Trust had a return on equity of 9.82% and a net margin of 39.04%. As a group, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 88.12%.

Wall Street Analyst Weigh In

FR has been the topic of a number of analyst reports. 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 note on Monday, May 5th. Barclays decreased their target price on 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. Robert W. Baird decreased their target price on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Scotiabank lifted their target price on 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, The Goldman Sachs Group decreased their target price on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the 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 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.