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

New York State Common Retirement Fund reduced its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 7.0% during the fourth quarter, Holdings Channel reports. The firm owned 136,382 shares of the real estate investment trust’s stock after selling 10,299 shares during the period. New York State Common Retirement Fund’s holdings in First Industrial Realty Trust were worth $6,837,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in shares of First Industrial Realty Trust during the fourth quarter valued at approximately $185,000. Venturi Wealth Management LLC grew its stake in First Industrial Realty Trust by 200.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 747 shares during the period. CIBC Asset Management Inc increased its position in shares of First Industrial Realty Trust by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 210 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of First Industrial Realty Trust by 11.5% during the 4th quarter. Sanctuary Advisors LLC now owns 10,555 shares of the real estate investment trust’s stock worth $565,000 after purchasing an additional 1,092 shares during the period. Finally, Principal Securities Inc. boosted its holdings in shares of First Industrial Realty Trust by 9.3% in the 4th quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 269 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Up 0.2 %

FR stock opened at $56.79 on Thursday. The stock has a 50-day simple moving average of $52.43 and a two-hundred day simple moving average of $53.70. First Industrial Realty Trust, Inc. has a twelve month low of $45.10 and a twelve month high of $57.35. The firm has a market capitalization of $7.52 billion, a PE ratio of 26.05 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, equities analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio (DPR) is 81.65%.

Analysts Set New Price Targets

Several analysts have commented on FR shares. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. Barclays reduced their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Robert W. Baird boosted their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price target for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.31.

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.