Sumitomo Mitsui Trust Group Inc. Has $11.99 Million Holdings in First Industrial Realty Trust, Inc. $FR

Sumitomo Mitsui Trust Group Inc. lessened its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 78.4% during the first quarter, HoldingsChannel.com reports. The firm owned 207,278 shares of the real estate investment trust’s stock after selling 752,639 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in First Industrial Realty Trust were worth $11,991,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FR. Measured Wealth Private Client Group LLC bought a new position in First Industrial Realty Trust in the third quarter valued at $26,000. Parallel Advisors LLC lifted its position in First Industrial Realty Trust by 86.9% during the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 291 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in First Industrial Realty Trust by 64.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 301 shares in the last quarter. Danske Bank A S acquired a new position in shares of First Industrial Realty Trust during the 3rd quarter worth about $51,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of First Industrial Realty Trust by 27.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 262 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FR shares. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. KeyCorp reissued a “sector weight” rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. Raymond James Financial restated a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. Wells Fargo & Company lowered their price target on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Finally, Robert W. Baird upped their price objective on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.93.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $64.79 on Wednesday. The company has a market cap of $8.59 billion, a PE ratio of 25.11 and a beta of 1.05. The firm has a 50-day moving average of $62.57 and a 200-day moving average of $60.78. First Industrial Realty Trust, Inc. has a one year low of $47.38 and a one year high of $65.74. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 77.52%.

First Industrial Realty Trust 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.