New Age Alpha Advisors LLC Sells 22,435 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Key Points

• New Age Alpha Advisors LLC significantly reduced its holdings in First Industrial Realty Trust by selling 22,435 shares, which amounts to an 86.0% decrease in its stake during the first quarter.
• Several other hedge funds, including Bessemer Group Inc. and Parallel Advisors LLC, also adjusted their positions in First Industrial Realty Trust, reflecting a trend of institutional investment activity.
• Analysts have mixed outlooks on First Industrial Realty Trust, with price targets ranging from $51.00 to $59.00, and a consensus rating of "Hold" as investment firms reassess the stock's potential.

New Age Alpha Advisors LLC reduced its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 86.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,656 shares of the real estate investment trust's stock after selling 22,435 shares during the quarter. New Age Alpha Advisors LLC's holdings in First Industrial Realty Trust were worth $197,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FR. Artemis Investment Management LLP bought a new position in First Industrial Realty Trust in the 1st quarter valued at about $40,294,000. Deutsche Bank AG increased its holdings in shares of First Industrial Realty Trust by 56.1% during the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock worth $94,176,000 after purchasing an additional 675,306 shares during the period. Rush Island Management LP increased its holdings in shares of First Industrial Realty Trust by 50.9% during the fourth quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock worth $82,240,000 after purchasing an additional 553,567 shares during the period. Argosy Lionbridge Management LLC bought a new position in shares of First Industrial Realty Trust during the fourth quarter worth approximately $26,447,000. Finally, Northern Trust Corp increased its holdings in shares of First Industrial Realty Trust by 41.2% during the fourth quarter. Northern Trust Corp now owns 1,554,330 shares of the real estate investment trust's stock worth $77,919,000 after purchasing an additional 453,465 shares during the period. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE FR traded up $0.18 during trading hours on Friday, hitting $48.70. 57,180 shares of the stock were exchanged, compared to its average volume of 1,267,688. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $6.45 billion, a PE ratio of 23.77 and a beta of 1.04. The company's fifty day simple moving average is $49.14 and its two-hundred day simple moving average is $50.77. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly 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. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The business had revenue of $180.16 million for the quarter, compared to analyst estimates of $176.46 million. During the same quarter last year, the business posted $0.66 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a $0.445 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.7%. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 86.83%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Scotiabank raised their target price on shares of 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. Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Wells Fargo & Company lowered 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. Robert W. Baird lowered their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $55.10.

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.