California Public Employees Retirement System Decreases Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

California Public Employees Retirement System trimmed its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR – Get Rating) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 313,564 shares of the real estate investment trust’s stock after selling 14,253 shares during the period. California Public Employees Retirement System owned 0.24% of First Industrial Realty Trust worth $15,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FR. Neo Ivy Capital Management acquired a new stake in shares of First Industrial Realty Trust in the second quarter valued at about $28,000. Wipfli Financial Advisors LLC acquired a new stake in shares of First Industrial Realty Trust in the third quarter valued at about $44,000. Brown Brothers Harriman & Co. acquired a new stake in shares of First Industrial Realty Trust in the first quarter valued at about $46,000. CWM LLC raised its position in shares of First Industrial Realty Trust by 147.7% in the fourth quarter. CWM LLC now owns 1,003 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 598 shares during the last quarter. Finally, Ellevest Inc. raised its position in shares of First Industrial Realty Trust by 1,790.0% in the third quarter. Ellevest Inc. now owns 1,134 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,074 shares during the last quarter. 98.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Scott A. Musil sold 7,600 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $52.28, for a total value of $397,328.00. Following the completion of the transaction, the chief financial officer now owns 81,078 shares of the company’s stock, valued at $4,238,757.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.55% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of FR opened at $53.30 on Friday. First Industrial Realty Trust, Inc. has a 1-year low of $42.91 and a 1-year high of $55.88. The stock has a market cap of $7.05 billion, a PE ratio of 18.64 and a beta of 0.99. The firm has a 50-day simple moving average of $52.04 and a two-hundred day simple moving average of $50.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.96 and a quick ratio of 0.96.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, June 29th. First Industrial Realty Trust’s payout ratio is 44.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Robert W. Baird raised their price objective on shares of First Industrial Realty Trust from $60.00 to $63.00 in a research report on Monday, April 24th. Royal Bank of Canada restated an “outperform” rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a research report on Thursday, February 23rd. StockNews.com assumed coverage on shares of First Industrial Realty Trust in a research report on Thursday, March 16th. They set a “hold” rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of First Industrial Realty Trust in a research report on Tuesday, March 21st. They set a “sell” rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and an average price target of $58.13.

First Industrial Realty Trust Profile

(Get Rating)

First Industrial Realty Trust, Inc engages in the ownership, management, acquisition, sale, development, and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties. The company was founded by Johannson L.