First Industrial Realty Trust, Inc. (NYSE:FR) Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System grew its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 34.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,978 shares of the real estate investment trust’s stock after acquiring an additional 12,743 shares during the period. New York State Teachers Retirement System’s holdings in First Industrial Realty Trust were worth $2,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings 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. Farther Finance Advisors LLC grew its position in First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 417 shares during the period. Blue Trust Inc. increased its holdings in First Industrial Realty Trust by 201.9% in the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 636 shares in the last quarter. UMB Bank n.a. increased its holdings in First Industrial Realty Trust by 24.7% in 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 in the last quarter. Finally, Covestor Ltd lifted its position in shares of First Industrial Realty Trust by 188.7% during the 3rd quarter. Covestor Ltd now owns 1,484 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 970 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FR. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price objective for the company from $52.00 to $59.00 in a research note on Friday. Robert W. Baird raised their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft began 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 on the stock. Barclays lowered their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Finally, KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.31.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock opened at $55.69 on Friday. The firm has a fifty day moving average of $52.26 and a 200-day moving average of $53.63. 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, Inc. has a 52-week low of $45.10 and a 52-week high of $57.35. The firm has a market capitalization of $7.37 billion, a P/E ratio of 25.55 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a dividend of $0.445 per share. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 annualized dividend and a yield of 3.20%. First Industrial Realty Trust’s payout ratio is 67.89%.

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.