First Industrial Realty Trust Inc. Stake Lessened by ProShare Advisors LLC

ProShare Advisors LLC Decreases Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

ProShare Advisors LLC recently reduced its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 7.3% in the first quarter, according to a recent 13F filing with the Securities and Exchange Commission. The institutional investor sold 506 shares, bringing their total holdings in First Industrial Realty Trust to 6,452 shares valued at $339,000.

This move by ProShare Advisors LLC is part of a larger trend among institutional investors adjusting their positions in First Industrial Realty Trust. Norges Bank, Frontier Capital Management Co. LLC, Centersquare Investment Management LLC, Russell Investments Group Ltd., and Lasalle Investment Management Securities LLC have all made significant changes to their holdings in the real estate investment trust.

First Industrial Realty Trust stock performance has been closely watched, with the company reporting earnings results on July 17th. The firm reported $0.39 earnings per share for the quarter, falling short of the consensus estimate of $0.64. Despite this, the company saw a 7.8% increase in revenue year-over-year.

In addition to its earnings report, First Industrial Realty Trust also announced a quarterly dividend, with stockholders receiving $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.75%.

Analysts have weighed in on First Industrial Realty Trust, with varying price targets and ratings. Despite some fluctuations, the company currently holds a consensus rating of “Hold” with a consensus price target of $53.55.

First Industrial Realty Trust, Inc. is a leading U.S.-only owner, operator, developer, and acquirer of logistics properties. The company provides high-quality facilities and customer service to multinational corporations and regional firms essential for their supply chains.

Overall, the adjustments in stake by ProShare Advisors LLC and other institutional investors, coupled with the company’s recent earnings report and dividend announcement, have kept First Industrial Realty Trust in the spotlight for investors and analysts alike.