First National Advisers LLC Lowers Position in First Industrial Realty Trust, Inc. $FR

First National Advisers LLC cut its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 21.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,020 shares of the real estate investment trust’s stock after selling 11,754 shares during the period. First National Advisers LLC’s holdings in First Industrial Realty Trust were worth $2,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FR. Rush Island Management LP purchased a new position in First Industrial Realty Trust during the second quarter valued at $79,904,000. AQR Capital Management LLC lifted its position 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 valued at $89,291,000 after purchasing an additional 1,541,778 shares in the last quarter. Duff & Phelps Investment Management Co. purchased a new position in First Industrial Realty Trust during the third quarter valued at $74,584,000. Citadel Advisors LLC lifted its position 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 valued at $128,581,000 after purchasing an additional 1,035,385 shares in the last quarter. Finally, PGGM Investments lifted its position in First Industrial Realty Trust by 46.0% during the third quarter. PGGM Investments now owns 2,337,100 shares of the real estate investment trust’s stock valued at $120,291,000 after purchasing an additional 736,477 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $62.36 on Tuesday. The stock’s 50-day simple moving average is $60.74 and its 200-day simple moving average is $58.88. 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 market capitalization of $8.27 billion, a price-to-earnings ratio of 24.17 and a beta of 1.07. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.90.

First Industrial Realty Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barclays reiterated a “positive” rating and set a $64.00 target price on shares of First Industrial Realty Trust in a research report on Tuesday, January 13th. Citigroup lifted their target price on 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. Royal Bank Of Canada boosted their price objective on First Industrial Realty Trust from $64.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.57.

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.