Savant Capital LLC Cuts Stake in First Industrial Realty Trust, Inc. $FR

Savant Capital LLC lessened its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 71.5% in the 4th quarter, Holdings Channel reports. The fund owned 8,111 shares of the real estate investment trust’s stock after selling 20,317 shares during the period. Savant Capital LLC’s holdings in First Industrial Realty Trust were worth $465,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of First Industrial Realty Trust by 856,065.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock valued at $560,443,000 after buying an additional 9,784,830 shares in the last quarter. Rush Island Management LP purchased a new position in First Industrial Realty Trust in the second quarter worth $79,904,000. AQR Capital Management LLC lifted its holdings in First Industrial Realty Trust by 491.9% in 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 acquiring an additional 1,541,778 shares during the period. Duff & Phelps Investment Management Co. purchased a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth $74,584,000. Finally, Citadel Advisors LLC boosted its position in shares of First Industrial Realty Trust by 70.8% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FR shares. Truist Financial upped their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Scotiabank upped their target price on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 target price on shares of First Industrial Realty Trust in a report on Monday, April 27th. Finally, Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.93.

First Industrial Realty Trust Trading Up 2.1%

Shares of FR stock opened at $61.64 on Friday. The stock has a market cap of $8.17 billion, a P/E ratio of 23.89 and a beta of 1.05. 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, Inc. has a fifty-two week low of $47.36 and a fifty-two week high of $64.66. The business has a fifty day simple moving average of $61.24 and a 200-day simple moving average of $59.66.

First Industrial Realty Trust Announces Dividend

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

About First Industrial Realty Trust

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.