New York State Common Retirement Fund Cuts Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

New York State Common Retirement Fund lowered its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,382 shares of the real estate investment trust's stock after selling 10,299 shares during the quarter. New York State Common Retirement Fund owned 0.10% of First Industrial Realty Trust worth $6,837,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FR. Blue Trust Inc. boosted its position in First Industrial Realty Trust by 201.9% during the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 636 shares during the period. Farther Finance Advisors LLC lifted its position in shares of First Industrial Realty Trust by 77.4% in the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 417 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of First Industrial Realty Trust by 92.5% during the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 481 shares during the period. UMB Bank n.a. grew its position in First Industrial Realty Trust by 24.7% during the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 214 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in First Industrial Realty Trust by 200.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust's stock valued at $56,000 after buying an additional 747 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research analysts have commented on FR shares. The Goldman Sachs Group upgraded First Industrial Realty Trust from a "sell" rating to a "neutral" rating and boosted their target price for the company from $52.00 to $59.00 in a research note on Friday, February 21st. Robert W. Baird increased their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Barclays reduced their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating for the company in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a "hold" rating and a $52.00 price target on the stock. Finally, KeyCorp raised shares of First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of "Moderate Buy" and an average target price of $58.31.

First Industrial Realty Trust Stock Up 0.2 %

Shares of NYSE:FR traded up $0.09 during midday trading on Friday, hitting $57.07. The stock had a trading volume of 1,905,047 shares, compared to its average volume of 1,087,945. 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 business's 50-day simple moving average is $52.84 and its 200-day simple moving average is $53.77. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $57.43. The company has a market cap of $7.56 billion, a P/E ratio of 26.18 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. On average, sell-side analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.445 per share. The ex-dividend date is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a yield of 3.12%. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.37. First Industrial Realty Trust's dividend payout ratio is currently 81.65%.

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.