Retirement Systems of Alabama Purchases 535 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Retirement Systems of Alabama grew its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 381,668 shares of the real estate investment trust’s stock after purchasing an additional 535 shares during the quarter. Retirement Systems of Alabama’s holdings in First Industrial Realty Trust were worth $20,102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Michigan Retirement System grew its position in shares of First Industrial Realty Trust by 0.6% in the 4th quarter. State of Michigan Retirement System now owns 31,768 shares of the real estate investment trust’s stock valued at $1,673,000 after buying an additional 200 shares during the last quarter. Covestor Ltd boosted its holdings in First Industrial Realty Trust by 14.0% in the third quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 241 shares during the last quarter. GYL Financial Synergies LLC increased its position in First Industrial Realty Trust by 0.7% during the 3rd quarter. GYL Financial Synergies LLC now owns 35,469 shares of the real estate investment trust’s stock valued at $1,688,000 after purchasing an additional 242 shares during the period. M&T Bank Corp raised its holdings in First Industrial Realty Trust by 1.5% during the 3rd quarter. M&T Bank Corp now owns 16,886 shares of the real estate investment trust’s stock worth $804,000 after purchasing an additional 250 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of First Industrial Realty Trust by 3.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,009 shares of the real estate investment trust’s stock worth $429,000 after purchasing an additional 275 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FR has been the subject of several recent analyst reports. Truist Financial increased their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Royal Bank of Canada boosted their price objective on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Barclays reaffirmed an “equal weight” rating and set a $53.00 target price (down previously from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. The Goldman Sachs Group lifted their target price on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Finally, Wedbush cut First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $59.00 to $49.00 in a report on Thursday, April 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.11.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $46.49 on Tuesday. The stock’s 50 day moving average is $51.39 and its 200-day moving average is $49.91. First Industrial Realty Trust, Inc. has a twelve month low of $40.44 and a twelve month high of $55.22. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 21.42 and a beta of 1.01.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, March 27th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 68.20%.

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.