New York State Teachers Retirement System Lowers Holdings in First Industrial Realty Trust, Inc. $FR

New York State Teachers Retirement System decreased its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 25.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,235 shares of the real estate investment trust’s stock after selling 12,746 shares during the period. New York State Teachers Retirement System’s holdings in First Industrial Realty Trust were worth $1,916,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mather Group LLC. purchased a new stake in shares of First Industrial Realty Trust in the third quarter valued at approximately $39,000. Elevation Point Wealth Partners LLC acquired a new stake in First Industrial Realty Trust in the second quarter valued at $40,000. SJS Investment Consulting Inc. purchased a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth $47,000. True Wealth Design LLC boosted its position in shares of First Industrial Realty Trust by 988.7% during the 2nd quarter. True Wealth Design LLC now owns 1,252 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 1,137 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of First Industrial Realty Trust by 272.5% during the 2nd quarter. IFP Advisors Inc now owns 1,330 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 973 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $59.99 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.91. The business’s fifty day moving average price is $57.57 and its two-hundred day moving average price is $53.61. The stock has a market cap of $7.94 billion, a PE ratio of 33.51 and a beta of 1.14. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $60.20.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 99.44%.

Wall Street Analyst Weigh In

Several brokerages recently commented on FR. UBS Group set a $62.00 price objective on shares of First Industrial Realty Trust in a research note on Thursday, December 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Industrial Realty Trust in a research note on Friday, October 31st. Industrial Alliance Securities set a $67.00 price objective on First Industrial Realty Trust in a research note on Monday, January 5th. Wells Fargo & Company lifted their price objective on First Industrial Realty Trust from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, October 27th. Finally, Barclays reiterated a “positive” rating and set a $64.00 target price on shares of First Industrial Realty Trust in a research report on Tuesday, January 13th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.69.

Insider Activity at First Industrial Realty Trust

In other news, CIO Johannson L. Yap sold 680 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total value of $39,691.60. Following the completion of the transaction, the executive owned 3,770 shares of the company’s stock, valued at $220,054.90. The trade was a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.06% of the stock is currently owned by company insiders.

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.