First Industrial Realty Trust, Inc. $FR Shares Sold by PGGM Investments

PGGM Investments lessened its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,752,583 shares of the real estate investment trust’s stock after selling 584,517 shares during the period. First Industrial Realty Trust accounts for approximately 1.6% of PGGM Investments’ investment portfolio, making the stock its 24th biggest position. PGGM Investments owned approximately 1.32% of First Industrial Realty Trust worth $100,370,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FR. Goldman Sachs Group Inc. raised its position in shares of First Industrial Realty Trust by 41.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock worth $45,301,000 after purchasing an additional 244,562 shares during the last quarter. First Trust Advisors LP raised its holdings in First Industrial Realty Trust by 141.1% in the 2nd quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust’s stock valued at $4,181,000 after acquiring an additional 50,839 shares during the last quarter. Baird Financial Group Inc. raised its holdings in First Industrial Realty Trust by 4.4% in the 2nd quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust’s stock valued at $2,685,000 after acquiring an additional 2,356 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in First Industrial Realty Trust in the 2nd quarter valued at about $275,000. Finally, Cerity Partners LLC raised its holdings in First Industrial Realty Trust by 463.4% in the 2nd quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust’s stock valued at $3,033,000 after acquiring an additional 51,828 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Up 0.0%

Shares of NYSE FR opened at $63.28 on Tuesday. The company has a 50 day simple moving average of $60.84 and a 200-day simple moving average of $59.33. The company has a market capitalization of $8.39 billion, a P/E ratio of 24.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. First Industrial Realty Trust, Inc. has a 1 year low of $47.36 and a 1 year high of $64.66.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio is presently 77.52%.

Wall Street Analyst Weigh In

A number of analysts have commented on FR shares. Robert W. Baird increased their price objective on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. 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. Scotiabank increased their price objective on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a report on Monday, April 27th. Finally, Royal Bank Of Canada increased their price objective on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and a consensus price target of $63.64.

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.