Man Group plc Trims Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Man Group plc lessened its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 22.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,788 shares of the real estate investment trust's stock after selling 18,956 shares during the quarter. Man Group plc's holdings in First Industrial Realty Trust were worth $3,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in FR. Proficio Capital Partners LLC purchased a new position in First Industrial Realty Trust during the 4th quarter valued at about $1,463,000. Barclays PLC grew its holdings in shares of First Industrial Realty Trust by 109.7% during the 4th quarter. Barclays PLC now owns 274,968 shares of the real estate investment trust's stock worth $13,783,000 after acquiring an additional 143,857 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of First Industrial Realty Trust by 13.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust's stock worth $142,000 after acquiring an additional 331 shares during the period. Victory Capital Management Inc. grew its holdings in shares of First Industrial Realty Trust by 6.2% during the 4th quarter. Victory Capital Management Inc. now owns 698,710 shares of the real estate investment trust's stock worth $35,026,000 after acquiring an additional 40,734 shares during the period. Finally, Los Angeles Capital Management LLC grew its holdings in shares of First Industrial Realty Trust by 485.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 32,745 shares of the real estate investment trust's stock worth $1,642,000 after acquiring an additional 27,150 shares during the period. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR traded up $0.80 during midday trading on Tuesday, hitting $48.96. 461,538 shares of the stock traded hands, compared to its average volume of 1,136,716. The firm has a 50-day moving average of $49.13 and a two-hundred day moving average of $51.80. The firm has a market capitalization of $6.48 billion, a P/E ratio of 22.45 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be paid a $0.445 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.64%. First Industrial Realty Trust's dividend payout ratio (DPR) is 88.12%.

Analyst Ratings Changes

FR has been the topic of a number of research analyst reports. Barclays reduced their target price on 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. The Goldman Sachs Group reduced their target price on 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. Scotiabank upped their target price on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Truist Financial dropped their price target on 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. Finally, Royal Bank of Canada lowered their price objective on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust currently has an average rating of "Moderate Buy" and an average price target of $56.00.

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.