Sumitomo Mitsui Trust Group Inc. Sells 752,639 Shares of First Industrial Realty Trust, Inc. $FR

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 78.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 207,278 shares of the real estate investment trust’s stock after selling 752,639 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.16% of First Industrial Realty Trust worth $11,991,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new position in shares of First Industrial Realty Trust during the third quarter worth $26,000. Parallel Advisors LLC increased its position in shares of First Industrial Realty Trust by 86.9% in the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 291 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of First Industrial Realty Trust by 64.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 301 shares in the last quarter. Danske Bank A S acquired a new stake in First Industrial Realty Trust during the 3rd quarter worth $51,000. Finally, Parkside Financial Bank & Trust raised its stake in 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 period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Robert W. Baird lifted their price objective on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. 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. 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.93.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $64.79 on Wednesday. The firm has a market cap of $8.59 billion, a PE ratio of 25.11 and a beta of 1.05. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. First Industrial Realty Trust, Inc. has a 1-year low of $47.38 and a 1-year high of $65.74. The company has a fifty day moving average price of $62.57 and a 200 day moving average price of $60.78.

First Industrial Realty Trust Dividend Announcement

The company 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 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 dividend yield of 3.1%. First Industrial Realty Trust’s dividend payout ratio (DPR) 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.