Cornercap Investment Counsel Inc. Sells 9,189 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Cornercap Investment Counsel Inc. cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 37.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,207 shares of the real estate investment trust’s stock after selling 9,189 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in First Industrial Realty Trust were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of FR. V Square Quantitative Management LLC bought a new position in First Industrial Realty Trust in the third quarter valued at about $28,000. Allspring Global Investments Holdings LLC grew its position in First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 200 shares during the period. UMB Bank n.a. increased its holdings in First Industrial Realty Trust by 116.2% during the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 466 shares during the last quarter. Blue Trust Inc. raised its position in First Industrial Realty Trust by 201.9% in the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 636 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of First Industrial Realty Trust by 77.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 417 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $52.44 on Friday. The business’s 50-day moving average is $54.76 and its 200 day moving average is $51.76. First Industrial Realty Trust, Inc. has a 12 month low of $44.17 and a 12 month high of $57.35. The company has a market capitalization of $6.94 billion, a P/E ratio of 22.51 and a beta of 1.08. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The business had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. During the same period in the prior year, the firm earned $0.62 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 2.82%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 63.52%.

Analyst Ratings Changes

Several analysts have issued reports on FR shares. Scotiabank boosted their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Wells Fargo & Company boosted their price objective on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Mizuho raised their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Royal Bank of Canada upped their price target on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, Barclays raised their price objective on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.92.

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.