Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in First Industrial Realty Trust, Inc. $FR

Sumitomo Mitsui Trust Group Inc. raised its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 9.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 915,239 shares of the real estate investment trust’s stock after acquiring an additional 78,232 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.69% of First Industrial Realty Trust worth $47,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mather Group LLC. purchased a new stake in shares of First Industrial Realty Trust during the third quarter valued at $39,000. Elevation Point Wealth Partners LLC bought a new stake in First Industrial Realty Trust during the 2nd quarter valued at about $40,000. SJS Investment Consulting Inc. purchased a new stake in First Industrial Realty Trust in the 3rd quarter valued at about $47,000. True Wealth Design LLC boosted its position in First Industrial Realty Trust by 988.7% in the 2nd quarter. True Wealth Design LLC now owns 1,252 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 1,137 shares during the period. Finally, IFP Advisors Inc grew its stake in First Industrial Realty Trust by 272.5% in the 2nd quarter. IFP Advisors Inc now owns 1,330 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 973 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 680 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total value of $39,691.60. Following the completion of the sale, the executive directly owned 3,770 shares in the company, valued at $220,054.90. This trade represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.06% of the stock is owned by insiders.

First Industrial Realty Trust Trading Up 0.3%

Shares of NYSE FR opened at $59.34 on Friday. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $60.00. The business has a fifty day moving average price of $57.50 and a 200 day moving average price of $53.46. The stock has a market capitalization of $7.86 billion, a P/E ratio of 33.15 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.91.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $181.43 million during the quarter, compared to the consensus estimate of $182.63 million. First Industrial Realty Trust had a net margin of 33.18% and a return on equity of 8.65%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. Equities research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, December 31st. First Industrial Realty Trust’s payout ratio is 99.44%.

Wall Street Analyst Weigh In

FR has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price target on shares of First Industrial Realty Trust from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Barclays reaffirmed a “positive” rating and set a $64.00 target price on shares of First Industrial Realty Trust in a research report on Tuesday. UBS Group set a $62.00 price target on First Industrial Realty Trust in a research report on Thursday, December 4th. Cantor Fitzgerald restated a “neutral” rating and set a $58.00 price target on shares of First Industrial Realty Trust in a research note on Monday, January 5th. Finally, Mizuho lifted their price objective on First Industrial Realty Trust from $56.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.69.

First Industrial Realty Trust Company 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.