NFJ Investment Group LLC Decreases Stock Position in First Industrial Realty Trust, Inc. $FR

NFJ Investment Group LLC reduced its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 19.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 193,445 shares of the real estate investment trust’s stock after selling 46,021 shares during the period. NFJ Investment Group LLC’s holdings in First Industrial Realty Trust were worth $11,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of FR. Measured Wealth Private Client Group LLC purchased a new stake in First Industrial Realty Trust in the third quarter worth $26,000. Parallel Advisors LLC increased its position in First Industrial Realty Trust by 86.9% in the fourth quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 291 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in First Industrial Realty Trust by 64.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 301 shares during the last quarter. Danske Bank A S purchased a new stake in First Industrial Realty Trust in the third quarter worth $51,000. Finally, Parkside Financial Bank & Trust increased its position in First Industrial Realty Trust by 27.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 262 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $63.49 on Friday. The stock has a market cap of $8.42 billion, a PE ratio of 24.61 and a beta of 1.05. First Industrial Realty Trust, Inc. has a fifty-two week low of $47.36 and a fifty-two week high of $64.66. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $61.77 and a 200-day moving average of $59.91.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is presently 77.52%.

Analyst Upgrades and Downgrades

FR has been the subject of a number of recent research reports. Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Wells Fargo & Company reduced their price target on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $65.00 price target on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Finally, Scotiabank lifted their price target on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average target price of $63.93.

About First Industrial Realty Trust

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.