First Industrial Realty Trust, Inc. $FR Shares Sold by London Co. of Virginia

London Co. of Virginia cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 13.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 820,034 shares of the real estate investment trust’s stock after selling 122,369 shares during the quarter. London Co. of Virginia’s holdings in First Industrial Realty Trust were worth $46,964,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FR. Measured Wealth Private Client Group LLC acquired a new stake in First Industrial Realty Trust during the 3rd quarter worth approximately $26,000. Parallel Advisors LLC lifted its holdings in First Industrial Realty Trust by 86.9% during the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 291 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in First Industrial Realty Trust by 64.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 301 shares in the last quarter. Danske Bank A S acquired a new stake in First Industrial Realty Trust during the 3rd quarter worth approximately $51,000. Finally, Parkside Financial Bank & Trust lifted its holdings in First Industrial Realty Trust by 27.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 262 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Down 0.9%

Shares of NYSE:FR opened at $62.77 on Wednesday. First Industrial Realty Trust, Inc. has a 52 week low of $47.36 and a 52 week high of $64.66. The company’s 50 day moving average is $61.95 and its two-hundred day moving average is $60.01. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The company has a market cap of $8.32 billion, a PE ratio of 24.33 and a beta of 1.05.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio is currently 77.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. KeyCorp reiterated a “sector weight” rating on shares of First Industrial Realty Trust in a report on Wednesday, June 10th. Truist Financial increased their target price on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Finally, Weiss Ratings raised shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and an average target price of $63.93.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.