First Industrial Realty Trust, Inc. $FR Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 3.8% in the first quarter, Holdings Channel.com reports. The firm owned 295,845 shares of the real estate investment trust’s stock after acquiring an additional 10,914 shares during the quarter. Principal Financial Group Inc.’s holdings in First Industrial Realty Trust were worth $17,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in First Industrial Realty Trust by 41.1% during the first quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock worth $45,301,000 after buying an additional 244,562 shares in the last quarter. First Trust Advisors LP boosted its stake in First Industrial Realty Trust by 141.1% during the second quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust’s stock worth $4,181,000 after buying an additional 50,839 shares during the last quarter. Baird Financial Group Inc. grew its holdings in First Industrial Realty Trust by 4.4% in the 2nd quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust’s stock valued at $2,685,000 after buying an additional 2,356 shares in the last quarter. Cresset Asset Management LLC purchased a new stake in First Industrial Realty Trust in the 2nd quarter valued at $275,000. Finally, Cerity Partners LLC raised its holdings in shares of First Industrial Realty Trust by 463.4% during the 2nd quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust’s stock worth $3,033,000 after acquiring an additional 51,828 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

FR has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Weiss Ratings raised shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Truist Financial boosted their target price on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, May 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $65.00 price target on shares of First Industrial Realty Trust in a research note on Monday, April 27th. Finally, Robert W. Baird increased 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 note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.29.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $67.76 on Thursday. First Industrial Realty Trust, Inc. has a 52 week low of $47.38 and a 52 week high of $69.88. The business’s fifty day simple moving average is $63.24 and its 200-day simple moving average is $61.21. The firm has a market cap of $8.98 billion, a PE ratio of 26.26 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.0%. First Industrial Realty Trust’s dividend 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.