Principal Financial Group Inc. Sells 91,436 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Principal Financial Group Inc. cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 6.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,413,460 shares of the real estate investment trust's stock after selling 91,436 shares during the period. Principal Financial Group Inc. owned about 1.07% of First Industrial Realty Trust worth $70,857,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FR. Versant Capital Management Inc boosted its stake in shares of First Industrial Realty Trust by 92.5% in the 4th quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 481 shares in the last quarter. Blue Trust Inc. lifted its stake in First Industrial Realty Trust by 201.9% in the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust's stock valued at $53,000 after purchasing an additional 636 shares during the last quarter. Farther Finance Advisors LLC boosted its position in 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 valued at $53,000 after buying an additional 417 shares in the last quarter. UMB Bank n.a. grew its stake in shares of 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 worth $54,000 after buying an additional 214 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of First Industrial Realty Trust by 188.7% during the third quarter. Covestor Ltd now owns 1,484 shares of the real estate investment trust's stock worth $83,000 after buying an additional 970 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Trading Up 0.3 %

NYSE FR traded up $0.16 during trading hours on Thursday, hitting $55.78. 503,377 shares of the company's stock were exchanged, compared to its average volume of 1,067,469. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $57.35. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a 50-day simple moving average of $52.13 and a 200 day simple moving average of $53.59. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 25.59 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its 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%. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS 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 issued a dividend of $0.445 per share. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 67.89%.

Analysts Set New Price Targets

FR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price objective on the stock. Barclays lowered their price objective on 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. KeyCorp upgraded shares of First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, December 17th. Finally, Robert W. Baird upped their price target on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, First Industrial Realty Trust has a consensus rating of "Hold" and an average price target of $57.77.

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.