State of New Jersey Common Pension Fund D Cuts Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,614 shares of the real estate investment trust’s stock after selling 1,843 shares during the period. State of New Jersey Common Pension Fund D’s holdings in First Industrial Realty Trust were worth $1,986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FR. UMB Bank n.a. boosted its position 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 valued at $54,000 after buying an additional 214 shares during the period. Principal Securities Inc. increased its position in shares of First Industrial Realty Trust by 9.3% in the 4th quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 269 shares during the period. Stifel Financial Corp boosted its holdings in First Industrial Realty Trust by 1.1% in the third quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock valued at $1,450,000 after purchasing an additional 278 shares during the last quarter. Fortem Financial Group LLC boosted its holdings in First Industrial Realty Trust by 2.9% in the fourth quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 292 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of First Industrial Realty Trust by 30.7% during the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 292 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Down 0.1 %

Shares of NYSE:FR opened at $55.69 on Monday. The company has a market cap of $7.37 billion, a PE ratio of 25.55 and a beta of 1.09. The company’s 50-day moving average price is $52.26 and its 200 day moving average price is $53.65. 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 quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping 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%. Sell-side analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently disclosed 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 of this dividend is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a yield of 3.20%. First Industrial Realty Trust’s payout ratio is presently 81.65%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FR. Barclays cut their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target for the company. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group raised 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 research report on Friday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and a consensus price target of $58.31.

First Industrial Realty Trust Company 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.