D. E. Shaw & Co. Inc. Sells 67,352 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

D. E. Shaw & Co. Inc. lowered its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 434,713 shares of the real estate investment trust's stock after selling 67,352 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.33% of First Industrial Realty Trust worth $21,792,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. raised its holdings in shares of First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock valued at $214,401,000 after buying an additional 1,903,164 shares during the period. Norges Bank purchased a new position in shares of First Industrial Realty Trust in the 4th quarter valued at about $90,489,000. Deutsche Bank AG boosted its holdings in shares of First Industrial Realty Trust by 56.1% in the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after acquiring an additional 675,306 shares during the period. Argosy Lionbridge Management LLC purchased a new position in First Industrial Realty Trust during the 4th quarter worth $26,447,000. Finally, Prudential Financial Inc. lifted its position in First Industrial Realty Trust by 194.5% during the 4th quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust's stock worth $41,564,000 after acquiring an additional 523,429 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Scotiabank increased their price objective on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Monday. Truist Financial reduced their price objective 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 dropped their price objective 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 dropped their price objective 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. Finally, Robert W. Baird lowered their price target on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.58.

First Industrial Realty Trust Stock Performance

NYSE:FR traded up $0.50 on Thursday, hitting $50.90. The company's stock had a trading volume of 739,397 shares, compared to its average volume of 1,131,044. The firm has a market capitalization of $6.74 billion, a P/E ratio of 23.35 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The stock has a fifty day moving average of $50.20 and a two-hundred day moving average of $52.01.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued 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 analyst estimates of $176.98 million. Research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors 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 yield of 3.50%. First Industrial Realty Trust's payout ratio is 88.12%.

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.