New York State Common Retirement Fund Trims Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

New York State Common Retirement Fund lowered its stake in First Industrial Realty Trust, Inc. (NYSE:FRFree Report) by 13.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,086 shares of the real estate investment trust’s stock after selling 17,476 shares during the period. New York State Common Retirement Fund’s holdings in First Industrial Realty Trust were worth $5,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new position in shares of First Industrial Realty Trust in the 3rd quarter worth approximately $941,000. Jump Financial LLC purchased a new position in First Industrial Realty Trust during the third quarter worth $663,000. Arizona State Retirement System boosted its stake in First Industrial Realty Trust by 1.4% during the third quarter. Arizona State Retirement System now owns 37,653 shares of the real estate investment trust’s stock worth $1,792,000 after buying an additional 517 shares during the period. abrdn plc boosted its stake in shares of First Industrial Realty Trust by 2.5% during the 3rd quarter. abrdn plc now owns 27,825 shares of the real estate investment trust’s stock worth $1,324,000 after purchasing an additional 667 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of First Industrial Realty Trust by 1.2% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 78,512 shares of the real estate investment trust’s stock worth $3,736,000 after purchasing an additional 957 shares during the period. Hedge funds and other institutional investors own 98.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FR. Wells Fargo & Company began coverage on First Industrial Realty Trust in a research report on Thursday, December 7th. They set an “equal weight” rating for the company. Mizuho boosted their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. TheStreet upgraded First Industrial Realty Trust from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. The Goldman Sachs Group boosted their target price on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday, January 11th. Finally, Truist Financial lowered their target price on shares of First Industrial Realty Trust from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Hold” and an average target price of $54.38.

Read Our Latest Stock Analysis on First Industrial Realty Trust

First Industrial Realty Trust Stock Up 1.3 %

NYSE:FR opened at $54.27 on Monday. First Industrial Realty Trust, Inc. has a 1-year low of $40.44 and a 1-year high of $55.22. The company has a 50-day moving average of $52.20 and a 200 day moving average of $49.31. The firm has a market cap of $7.18 billion, a PE ratio of 26.22 and a beta of 1.02. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 0.90.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s dividend payout ratio is presently 61.84%.

First Industrial Realty Trust Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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