California Public Employees Retirement System Sells 14,301 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

California Public Employees Retirement System decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 220,388 shares of the real estate investment trust's stock after selling 14,301 shares during the quarter. California Public Employees Retirement System owned 0.17% of First Industrial Realty Trust worth $11,048,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in First Industrial Realty Trust by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust's stock valued at $962,039,000 after purchasing an additional 304,589 shares during the period. JPMorgan Chase & Co. raised its position in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock valued at $187,798,000 after buying an additional 747,101 shares during the period. Geode Capital Management LLC lifted its stake in First Industrial Realty Trust by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust's stock worth $138,214,000 after acquiring an additional 15,093 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in First Industrial Realty Trust by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust's stock worth $110,581,000 after acquiring an additional 23,280 shares during the period. Finally, Norges Bank purchased a new position in First Industrial Realty Trust during the 4th quarter valued at about $90,489,000. Institutional investors own 99.85% of the company's stock.

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Wall Street Analysts Forecast Growth

FR has been the subject of several research reports. KeyCorp upgraded shares of First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a report on Tuesday, December 17th. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and boosted their price target for the company from $52.00 to $59.00 in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price objective for the company. Scotiabank dropped their target price on First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Monday. Finally, Robert W. Baird boosted their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $57.77.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR traded up $0.89 during trading on Friday, reaching $45.61. The stock had a trading volume of 1,763,108 shares, compared to its average volume of 1,109,284. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The stock has a fifty day simple moving average of $53.74 and a two-hundred day simple moving average of $53.05. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 20.92 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.90%. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust's dividend payout ratio is currently 81.65%.

First Industrial Realty Trust Profile

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.