First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 24.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,457 shares of the real estate investment trust’s stock after selling 13,231 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in First Industrial Realty Trust were worth $1,970,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. lifted its holdings in shares of First Industrial Realty Trust by 781.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 469 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of First Industrial Realty Trust by 46.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Mather Group LLC. acquired a new position in shares of First Industrial Realty Trust during the 1st quarter valued at $50,000. C M Bidwell & Associates Ltd. lifted its holdings in shares of First Industrial Realty Trust by 119.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 765 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of First Industrial Realty Trust during the 4th quarter valued at $82,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

FR opened at $55.51 on Friday. The company has a 50-day moving average of $54.68 and a 200-day moving average of $50.85. The company has a market capitalization of $7.35 billion, a P/E ratio of 25.58 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 1-year low of $40.44 and a 1-year high of $57.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. During the same period in the previous year, the firm posted $0.61 EPS. First Industrial Realty Trust’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts expect that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FR shares. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a report on Tuesday, August 13th. Mizuho lifted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Royal Bank of Canada lifted their price target on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, BNP Paribas assumed coverage on shares of First Industrial Realty Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.46.

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.