Engineers Gate Manager LP Sells 135,322 Shares of First Industrial Realty Trust, Inc. $FR

Engineers Gate Manager LP cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,362,025 shares of the real estate investment trust’s stock after selling 135,322 shares during the quarter. First Industrial Realty Trust makes up approximately 0.9% of Engineers Gate Manager LP’s portfolio, making the stock its 6th largest holding. Engineers Gate Manager LP owned 1.03% of First Industrial Realty Trust worth $78,003,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of FR. Northwestern Mutual Wealth Management Co. lifted its holdings in First Industrial Realty Trust by 856,065.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock valued at $560,443,000 after purchasing an additional 9,784,830 shares in the last quarter. Norges Bank purchased a new position in First Industrial Realty Trust in the 4th quarter valued at about $320,075,000. Invesco Ltd. lifted its holdings in First Industrial Realty Trust by 8.0% in the 3rd quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock valued at $223,571,000 after purchasing an additional 323,248 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in First Industrial Realty Trust by 10.5% in the 4th quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust’s stock valued at $151,752,000 after purchasing an additional 252,650 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in First Industrial Realty Trust by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,629,908 shares of the real estate investment trust’s stock valued at $150,644,000 after purchasing an additional 41,042 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on FR. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Wells Fargo & Company reduced their target price on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Finally, Truist Financial upped their target price on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.20.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $60.56 on Thursday. The firm has a market capitalization of $8.03 billion, a P/E ratio of 23.47 and a beta of 1.05. The stock has a fifty day moving average price of $61.99 and a 200 day moving average price of $60.03. First Industrial Realty Trust, Inc. has a 52 week low of $47.36 and a 52 week high of $64.66. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90.

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 3.3%. First Industrial Realty Trust’s dividend payout ratio is 77.52%.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.