Handelsbanken Fonder AB Trims Holdings in First Industrial Realty Trust, Inc. $FR

Handelsbanken Fonder AB lowered its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 26.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 52,774 shares of the real estate investment trust’s stock after selling 18,800 shares during the period. Handelsbanken Fonder AB’s holdings in First Industrial Realty Trust were worth $3,022,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of FR. Goldman Sachs Group Inc. raised its position in First Industrial Realty Trust by 41.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock worth $45,301,000 after buying an additional 244,562 shares during the last quarter. First Trust Advisors LP raised its position in First Industrial Realty Trust by 141.1% during the 2nd quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust’s stock worth $4,181,000 after buying an additional 50,839 shares during the last quarter. Baird Financial Group Inc. raised its position in First Industrial Realty Trust by 4.4% during the 2nd quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust’s stock worth $2,685,000 after buying an additional 2,356 shares during the last quarter. Cresset Asset Management LLC purchased a new position in First Industrial Realty Trust during the 2nd quarter worth $275,000. Finally, Cerity Partners LLC raised its position in First Industrial Realty Trust by 463.4% during the 2nd quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust’s stock worth $3,033,000 after buying an additional 51,828 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $63.28 on Friday. The company has a 50-day simple moving average of $60.78 and a 200-day simple moving average of $59.24. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $8.39 billion, a PE ratio of 24.53 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 52-week low of $47.36 and a 52-week high of $64.66.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 77.52%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FR shares. Truist Financial upped their price objective on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Cantor Fitzgerald restated a “neutral” rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Citigroup upped their price objective on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Finally, Royal Bank Of Canada upped their price objective on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.64.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.