Sun Life Financial Inc. Has $8.47 Million Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Sun Life Financial Inc. cut its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 40.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,376 shares of the real estate investment trust’s stock after selling 101,480 shares during the quarter. First Industrial Realty Trust accounts for about 0.5% of Sun Life Financial Inc.’s portfolio, making the stock its 25th largest holding. Sun Life Financial Inc. owned about 0.11% of First Industrial Realty Trust worth $8,474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tributary Capital Management LLC raised its holdings in shares of First Industrial Realty Trust by 23.1% during the 3rd quarter. Tributary Capital Management LLC now owns 9,960 shares of the real estate investment trust’s stock worth $558,000 after buying an additional 1,870 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in First Industrial Realty Trust by 6.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 84,364 shares of the real estate investment trust’s stock worth $4,669,000 after acquiring an additional 5,310 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of First Industrial Realty Trust by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,137 shares of the real estate investment trust’s stock worth $288,000 after acquiring an additional 1,325 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of First Industrial Realty Trust by 44.9% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 9,576 shares of the real estate investment trust’s stock valued at $536,000 after purchasing an additional 2,969 shares in the last quarter. Finally, Lecap Asset Management Ltd. grew its holdings in shares of First Industrial Realty Trust by 305.7% during the 3rd quarter. Lecap Asset Management Ltd. now owns 32,491 shares of the real estate investment trust’s stock valued at $1,819,000 after purchasing an additional 24,483 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial raised their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company lifted their price target 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. Royal Bank of Canada upped their price objective on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Mizuho raised their price objective on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Finally, Wolfe Research raised shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.92.

First Industrial Realty Trust Stock Down 1.7 %

Shares of NYSE FR opened at $53.61 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.16. First Industrial Realty Trust, Inc. has a 1 year low of $40.44 and a 1 year high of $57.35. The stock has a market capitalization of $7.09 billion, a P/E ratio of 24.71 and a beta of 1.08. The company has a 50-day moving average price of $55.52 and a 200-day moving average price of $51.32.

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

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.76%. First Industrial Realty Trust’s payout ratio is presently 68.20%.

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.