New York State Teachers Retirement System Purchases 12,708 Shares of First Industrial Realty Trust, Inc. $FR

New York State Teachers Retirement System lifted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 34.1% during the 4th quarter, HoldingsChannel reports. The firm owned 49,943 shares of the real estate investment trust’s stock after acquiring an additional 12,708 shares during the period. New York State Teachers Retirement System’s holdings in First Industrial Realty Trust were worth $2,860,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bank of Stockton bought a new stake in shares of First Industrial Realty Trust during the third quarter valued at approximately $946,000. Thrivent Financial for Lutherans boosted its position in shares of First Industrial Realty Trust by 3.0% during the third quarter. Thrivent Financial for Lutherans now owns 2,134,890 shares of the real estate investment trust’s stock valued at $109,883,000 after purchasing an additional 63,112 shares in the last quarter. Citadel Advisors LLC boosted its position in shares of First Industrial Realty Trust by 70.8% during the third quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock valued at $128,581,000 after purchasing an additional 1,035,385 shares in the last quarter. Inscription Capital LLC boosted its position in shares of First Industrial Realty Trust by 391.4% during the third quarter. Inscription Capital LLC now owns 22,641 shares of the real estate investment trust’s stock valued at $1,165,000 after purchasing an additional 18,034 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of First Industrial Realty Trust by 1,112.1% during the third quarter. SG Americas Securities LLC now owns 82,979 shares of the real estate investment trust’s stock valued at $4,271,000 after purchasing an additional 76,133 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Stock Down 0.1%

FR stock opened at $62.47 on Friday. First Industrial Realty Trust, Inc. has a 1-year low of $47.36 and a 1-year high of $64.66. The business has a fifty day moving average price of $60.75 and a 200-day moving average price of $58.79. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $8.28 billion, a P/E ratio of 24.21 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). First Industrial Realty Trust had a return on equity of 12.36% and a net margin of 45.98%.The business had revenue of $188.41 million during the quarter, compared to analysts’ expectations of $186.20 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts forecast that First Industrial Realty Trust, Inc. will post 3.15 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FR. Robert W. Baird lifted their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Citigroup increased their target price on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada increased their target price on First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Finally, Scotiabank increased their target price on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.57.

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.