Man Group plc Sells 18,956 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

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

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

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock traded down $0.27 on Wednesday, hitting $48.76. 103,358 shares of the company traded hands, compared to its average volume of 1,135,794. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The business has a 50-day simple moving average of $49.01 and a 200 day simple moving average of $51.78. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a market capitalization of $6.46 billion, a P/E ratio of 22.38 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The business had revenue of $177.07 million during the quarter, compared to analysts' expectations of $176.98 million. Research analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust's payout ratio is currently 88.12%.

Analyst Upgrades and Downgrades

Several brokerages have commented on FR. JPMorgan Chase & Co. cut their price target on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Wells Fargo & Company dropped their price objective on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. 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 research note 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 for the company in a research report on Monday, May 5th. Finally, The Goldman Sachs Group decreased their price objective on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, First Industrial Realty Trust has an average rating of "Moderate Buy" and a consensus price target of $56.00.

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.