PNC Financial Services Group Inc. Sells 270 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

PNC Financial Services Group Inc. lowered its holdings in First Industrial Realty Trust, Inc. (NYSE:FRFree Report) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,739 shares of the real estate investment trust’s stock after selling 270 shares during the period. PNC Financial Services Group Inc.’s holdings in First Industrial Realty Trust were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FR. Norges Bank acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth approximately $78,559,000. First National Advisers LLC grew its holdings in First Industrial Realty Trust by 104.5% during the fourth quarter. First National Advisers LLC now owns 22,736 shares of the real estate investment trust’s stock worth $1,198,000 after purchasing an additional 11,619 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in First Industrial Realty Trust by 38.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 7,693 shares of the real estate investment trust’s stock worth $405,000 after buying an additional 2,152 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in First Industrial Realty Trust by 2.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 80,542 shares of the real estate investment trust’s stock valued at $4,150,000 after buying an additional 2,030 shares during the period. Finally, Westpac Banking Corp lifted its position in shares of First Industrial Realty Trust by 2.1% in the fourth quarter. Westpac Banking Corp now owns 45,763 shares of the real estate investment trust’s stock valued at $2,410,000 after buying an additional 945 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Up 1.2 %

Shares of First Industrial Realty Trust stock opened at $47.12 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. 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 market capitalization of $6.24 billion, a price-to-earnings ratio of 21.71 and a beta of 1.05. The firm’s 50-day moving average price is $48.54 and its two-hundred day moving average price is $50.60.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, June 28th. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Analyst Upgrades and Downgrades

FR has been the topic of a number of research analyst reports. 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. Robert W. Baird cut their target price on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Wedbush cut First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $59.00 to $49.00 in a report on Thursday, April 25th. Finally, Barclays reiterated an “equal weight” rating and set a $53.00 target price (down previously from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $53.09.

View Our Latest Analysis on First Industrial Realty Trust

First Industrial Realty Trust Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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