New York State Teachers Retirement System Decreases Stake in First Industrial Realty Trust, Inc. $FR

New York State Teachers Retirement System lessened its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 34.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,928 shares of the real estate investment trust’s stock after selling 17,015 shares during the quarter. New York State Teachers Retirement System’s holdings in First Industrial Realty Trust were worth $1,905,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of First Industrial Realty Trust in the third quarter valued at about $26,000. Parallel Advisors LLC boosted its position in First Industrial Realty Trust by 86.9% during the fourth quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 291 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in First Industrial Realty Trust by 64.0% during 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 acquiring an additional 301 shares during the last quarter. Danske Bank A S purchased a new stake in First Industrial Realty Trust during the 3rd quarter valued at about $51,000. Finally, Parkside Financial Bank & Trust grew its stake in First Industrial Realty Trust by 27.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Raymond James Financial restated a “strong-buy” rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 price target on shares of First Industrial Realty Trust in a report on Monday, April 27th. Truist Financial lifted their price objective on 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. Finally, KeyCorp reissued a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and an average target price of $63.93.

First Industrial Realty Trust Trading Up 0.3%

Shares of First Industrial Realty Trust stock opened at $65.06 on Friday. The stock has a 50 day moving average of $62.45 and a 200 day moving average of $60.66. 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 firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 25.22 and a beta of 1.05. First Industrial Realty Trust, Inc. has a fifty-two week low of $47.38 and a fifty-two week high of $65.53.

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 issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. First Industrial Realty Trust’s dividend payout ratio is currently 77.52%.

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.