NFJ Investment Group LLC Sells 46,021 Shares of First Industrial Realty Trust, Inc. $FR

NFJ Investment Group LLC trimmed its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 19.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,445 shares of the real estate investment trust’s stock after selling 46,021 shares during the quarter. NFJ Investment Group LLC owned 0.15% of First Industrial Realty Trust worth $11,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in First Industrial Realty Trust during the 3rd quarter worth $26,000. Parallel Advisors LLC boosted its holdings in First Industrial Realty Trust by 86.9% during the 4th 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 holdings in First Industrial Realty Trust by 64.0% during the 4th 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 position in First Industrial Realty Trust during the 3rd quarter worth $51,000. Finally, Parkside Financial Bank & Trust boosted its holdings 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 worth $70,000 after acquiring 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 Stock Performance

Shares of First Industrial Realty Trust stock opened at $63.49 on Friday. The business’s fifty day simple moving average is $61.77 and its 200 day simple moving average is $59.91. The firm has a market capitalization of $8.42 billion, a P/E ratio of 24.61 and a beta of 1.05. First Industrial Realty Trust, Inc. has a 12 month low of $47.36 and a 12 month high of $64.66. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90.

First Industrial Realty Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FR. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a report on Monday, April 27th. Wells Fargo & Company dropped their price target on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Robert W. Baird lifted their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Scotiabank lifted their price target on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Finally, Truist Financial lifted their price target on First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.