Voya Investment Management LLC Sells 79,559 Shares of First Industrial Realty Trust, Inc. $FR

by · The Cerbat Gem

Voya Investment Management LLC lessened its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR – Free Report) by 27.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,014 shares of the real estate investment trust’s stock after selling 79,559 shares during the quarter. Voya Investment Management LLC owned about 0.16% of First Industrial Realty Trust worth $11,067,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Elevation Point Wealth Partners LLC purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at approximately $40,000. True Wealth Design LLC raised its holdings in First Industrial Realty Trust by 988.7% during the 2nd quarter. True Wealth Design LLC now owns 1,252 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 1,137 shares during the period. IFP Advisors Inc raised its holdings in First Industrial Realty Trust by 272.5% during the 2nd quarter. IFP Advisors Inc now owns 1,330 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 973 shares during the period. Fifth Third Bancorp lifted its position in shares of First Industrial Realty Trust by 15.9% during the second quarter. Fifth Third Bancorp now owns 1,503 shares of the real estate investment trust’s stock worth $72,000 after acquiring an additional 206 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of First Industrial Realty Trust by 4,697.1% in the second quarter. Hantz Financial Services Inc. now owns 1,679 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 1,644 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Cantor Fitzgerald initiated coverage on First Industrial Realty Trust in a report on Wednesday, October 1st. They set a “neutral” rating and a $55.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of First Industrial Realty Trust from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, October 27th. The Goldman Sachs Group boosted their price objective on shares of First Industrial Realty Trust from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Mizuho increased their target price on shares of First Industrial Realty Trust from $56.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Finally, Scotiabank boosted their price target on shares of First Industrial Realty Trust from $54.00 to $57.00 and gave the company a “sector perform” rating in a research report on Monday, November 10th. Five analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, First Industrial Realty Trust has an average rating of “Hold” and an average target price of $57.85.

Read Our Latest Report on FR

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $57.77 on Tuesday. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $59.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $7.65 billion, a P/E ratio of 32.27 and a beta of 1.13. The firm’s fifty day moving average price is $56.39 and its 200-day moving average price is $52.38.

First Industrial Realty Trust (NYSE:FR – Get Free Report) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The business had revenue of $181.43 million for the quarter, compared to analysts’ expectations of $182.63 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. On average, equities 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, January 20th. Investors of record on Wednesday, December 31st will be given a $0.445 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.78 dividend on an annualized basis and a yield of 3.1%. First Industrial Realty Trust’s payout ratio is presently 99.44%.

Insiders Place Their Bets

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 680 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total value of $39,691.60. Following the completion of the sale, the executive owned 3,770 shares of the company’s stock, valued at $220,054.90. This represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is owned by insiders.

About First Industrial Realty Trust

(Free Report)

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.

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