State of New Jersey Common Pension Fund D Sells 1,843 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

State of New Jersey Common Pension Fund D decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,614 shares of the real estate investment trust’s stock after selling 1,843 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in First Industrial Realty Trust were worth $1,986,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning acquired a new stake in shares of First Industrial Realty Trust in the third quarter valued at approximately $258,000. Howard Capital Management Group LLC acquired a new position in First Industrial Realty Trust during the third quarter worth $206,000. Blue Trust Inc. increased its holdings in First Industrial Realty Trust by 201.9% during the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 636 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in First Industrial Realty Trust by 2,886.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 18,843 shares of the real estate investment trust’s stock worth $1,055,000 after buying an additional 18,212 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in First Industrial Realty Trust by 44.9% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 9,576 shares of the real estate investment trust’s stock worth $536,000 after buying an additional 2,969 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $55.69 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The company has a market cap of $7.37 billion, a PE ratio of 25.55 and a beta of 1.09. The business has a 50 day moving average of $52.26 and a 200 day moving average of $53.65. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current 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 dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a dividend yield of 3.20%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 81.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on FR shares. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. Barclays reduced their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. 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. Finally, The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $52.00 to $59.00 in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $58.31.

About First Industrial Realty Trust

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.