First Industrial Realty Trust, Inc. (NYSE:FR) Stake Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 50.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,504,896 shares of the real estate investment trust's stock after selling 1,517,090 shares during the quarter. Principal Financial Group Inc. owned about 1.14% of First Industrial Realty Trust worth $84,244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new position in shares of First Industrial Realty Trust in the 1st quarter valued at $230,000. Russell Investments Group Ltd. boosted its holdings in First Industrial Realty Trust by 328.4% in the first quarter. Russell Investments Group Ltd. now owns 750,189 shares of the real estate investment trust's stock valued at $39,413,000 after acquiring an additional 575,057 shares during the last quarter. Entropy Technologies LP purchased a new stake in First Industrial Realty Trust during the first quarter valued at about $298,000. Centersquare Investment Management LLC increased its stake in First Industrial Realty Trust by 8.4% during the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust's stock worth $259,143,000 after acquiring an additional 380,805 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of First Industrial Realty Trust by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust's stock worth $1,008,284,000 after purchasing an additional 77,270 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Up 1.5 %

FR traded up $0.80 on Friday, reaching $53.55. The company's stock had a trading volume of 990,642 shares, compared to its average volume of 1,294,281. First Industrial Realty Trust, Inc. has a 1 year low of $42.38 and a 1 year high of $57.35. The business's 50 day moving average is $54.97 and its 200 day moving average is $51.65. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 22.98 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company had revenue of $167.60 million during the quarter, compared to analysts' expectations of $164.01 million. During the same period in the prior year, the business posted $0.62 EPS. The business's revenue was up 8.1% on a year-over-year basis. As a group, research analysts forecast that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust's dividend payout ratio is currently 63.52%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a "sell" rating in a research report on Friday, July 26th. Wolfe Research raised shares of First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 price objective for the company in a research report on Tuesday, August 13th. Scotiabank lifted their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a "sector perform" rating in a report on Monday, August 26th. Truist Financial upped their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company raised their price objective on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.92.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc NYSE: FR is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.