Intech Investment Management LLC Trims Stock Position in First Industrial Realty Trust, Inc. $FR

Intech Investment Management LLC cut its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 49.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,817 shares of the real estate investment trust’s stock after selling 19,990 shares during the period. Intech Investment Management LLC’s holdings in First Industrial Realty Trust were worth $1,192,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FR. Northwestern Mutual Wealth Management Co. raised its stake in First Industrial Realty Trust by 856,065.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after purchasing an additional 9,784,830 shares during the period. Rush Island Management LP purchased a new position in First Industrial Realty Trust during the second quarter worth about $79,904,000. AQR Capital Management LLC raised its stake in First Industrial Realty Trust by 491.9% during the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after purchasing an additional 1,541,778 shares during the period. Duff & Phelps Investment Management Co. purchased a new position in First Industrial Realty Trust during the third quarter worth about $74,584,000. Finally, Citadel Advisors LLC raised its stake in First Industrial Realty Trust by 70.8% during the third quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock worth $128,581,000 after purchasing an additional 1,035,385 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Down 0.2%

Shares of FR stock opened at $61.54 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $8.16 billion, a P/E ratio of 23.85 and a beta of 1.05. The company has a 50 day moving average price of $61.31 and a 200 day moving average price of $59.67. First Industrial Realty Trust, Inc. has a fifty-two week low of $47.36 and a fifty-two week 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 issued a $0.50 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. First Industrial Realty Trust’s payout ratio is 77.52%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Scotiabank lifted their price target on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Robert W. Baird lifted their price target on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Finally, Citigroup lifted their price target on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.93.

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.