Sumitomo Mitsui Trust Group Inc. Sells 34,046 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,263,194 shares of the real estate investment trust's stock after selling 34,046 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.95% of First Industrial Realty Trust worth $70,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Janney Montgomery Scott LLC bought a new stake in shares of First Industrial Realty Trust in the 1st quarter valued at approximately $230,000. Entropy Technologies LP acquired a new position in First Industrial Realty Trust in the first quarter worth approximately $298,000. Centersquare Investment Management LLC lifted its holdings in shares of 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 valued at $259,143,000 after purchasing an additional 380,805 shares during the last quarter. Vanguard Group Inc. increased its position in shares of First Industrial Realty Trust by 0.4% in the first quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust's stock worth $1,008,284,000 after acquiring an additional 77,270 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in First Industrial Realty Trust by 4.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,600 shares of the real estate investment trust's stock valued at $715,000 after purchasing an additional 588 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FR. 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 research report on Monday, August 26th. Mizuho upped their price objective on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, September 5th. Barclays boosted their price target on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Wolfe Research raised First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 price target on the stock in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company boosted their target price on 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. One investment 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 data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.92.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR remained flat at $52.44 during trading on Friday. The stock had a trading volume of 609,103 shares, compared to its average volume of 1,093,739. The firm has a market cap of $6.94 billion, a P/E ratio of 22.51 and a beta of 1.08. First Industrial Realty Trust, Inc. has a fifty-two week low of $44.35 and a fifty-two week high of $57.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm has a 50 day simple moving average of $54.68 and a 200-day simple moving average of $51.77.

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 earnings per share (EPS) for the quarter, topping 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 business had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. First Industrial Realty Trust's revenue was up 8.1% on a year-over-year basis. On average, analysts predict that First Industrial Realty Trust, Inc. will post 2.63 earnings per share 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 paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.82%. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 63.52%.

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.