abrdn plc Has $1.34 Million Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

abrdn plc lowered its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,345 shares of the real estate investment trust’s stock after selling 2,480 shares during the quarter. abrdn plc’s holdings in First Industrial Realty Trust were worth $1,335,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Industrial Realty Trust by 3.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,748 shares of the real estate investment trust’s stock valued at $3,937,000 after purchasing an additional 2,212 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its holdings in First Industrial Realty Trust by 1.8% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 20,912 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 363 shares in the last quarter. Strs Ohio boosted its position in First Industrial Realty Trust by 2.7% in the 4th quarter. Strs Ohio now owns 305,601 shares of the real estate investment trust’s stock valued at $16,096,000 after buying an additional 8,131 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of First Industrial Realty Trust by 27.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,311,911 shares of the real estate investment trust’s stock valued at $69,098,000 after buying an additional 283,634 shares during the period. Finally, Lecap Asset Management Ltd. bought a new stake in shares of First Industrial Realty Trust during the fourth quarter worth $980,000. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

FR opened at $46.49 on Tuesday. The stock has a market cap of $6.15 billion, a P/E ratio of 21.42 and a beta of 1.01. First Industrial Realty Trust, Inc. has a 12 month low of $40.44 and a 12 month high of $55.22. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The company has a fifty day simple moving average of $51.39 and a 200 day simple moving average of $49.91.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.37 dividend. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Wednesday, March 27th. First Industrial Realty Trust’s dividend payout ratio is 68.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FR shares. JPMorgan Chase & Co. decreased their price target on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Wedbush cut shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $59.00 to $49.00 in a research report on Thursday, April 25th. The Goldman Sachs Group increased their price objective on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Mizuho reaffirmed a “buy” rating and set a $58.00 target price on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Finally, Truist Financial increased their price target on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $53.11.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.