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

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

Other hedge funds have also recently modified their holdings of the company. Synovus Financial Corp lifted its holdings in First Industrial Realty Trust by 96.3% in the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust's stock valued at $1,588,000 after acquiring an additional 13,922 shares during the period. Franklin Resources Inc. lifted its position in shares of First Industrial Realty Trust by 42.9% in the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock valued at $10,546,000 after acquiring an additional 58,088 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in First Industrial Realty Trust by 17.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 531,900 shares of the real estate investment trust's stock worth $25,271,000 after purchasing an additional 79,515 shares during the period. United Services Automobile Association bought a new position in shares of First Industrial Realty Trust during the second quarter worth $507,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in First Industrial Realty Trust by 2,886.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,843 shares of the real estate investment trust's stock worth $1,055,000 after purchasing an additional 18,212 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock traded up $1.13 during mid-day trading on Friday, reaching $50.73. 2,773,732 shares of the company traded hands, compared to its average volume of 1,080,176. 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 firm's fifty day moving average is $53.13 and its two-hundred day moving average is $52.84. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $57.35. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 21.77 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $167.60 million during the quarter, compared to analysts' expectations of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The business's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. On average, equities research analysts expect that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 2.92%. First Industrial Realty Trust's dividend payout ratio is presently 63.52%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. KeyCorp raised First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a report on Tuesday, December 17th. Wells Fargo & Company upped their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 28th. Barclays reduced their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Monday, November 18th. Mizuho lifted their price objective on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, September 5th. Finally, Scotiabank upped their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a "sector perform" rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $57.83.

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.