Teacher Retirement System of Texas Sells 10,780 Shares of First Industrial Realty Trust, Inc. $FR

Teacher Retirement System of Texas cut its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 25.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,104 shares of the real estate investment trust’s stock after selling 10,780 shares during the period. Teacher Retirement System of Texas’ holdings in First Industrial Realty Trust were worth $1,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of FR. Global Retirement Partners LLC lifted its position in shares of First Industrial Realty Trust by 3.6% in the third quarter. Global Retirement Partners LLC now owns 5,670 shares of the real estate investment trust’s stock valued at $292,000 after acquiring an additional 195 shares in the last quarter. ProShare Advisors LLC boosted its stake in First Industrial Realty Trust by 4.0% in the 2nd quarter. ProShare Advisors LLC now owns 5,870 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 228 shares during the period. Corient Private Wealth LLC grew its holdings in First Industrial Realty Trust by 0.9% during the 2nd quarter. Corient Private Wealth LLC now owns 26,595 shares of the real estate investment trust’s stock valued at $1,280,000 after buying an additional 229 shares in the last quarter. Amalgamated Bank raised its position in shares of First Industrial Realty Trust by 0.4% during the second quarter. Amalgamated Bank now owns 60,879 shares of the real estate investment trust’s stock valued at $2,930,000 after buying an additional 257 shares during the last quarter. Finally, Greenwood Capital Associates LLC lifted its holdings in shares of First Industrial Realty Trust by 3.5% in the third quarter. Greenwood Capital Associates LLC now owns 8,166 shares of the real estate investment trust’s stock worth $420,000 after buying an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $57.99 on Friday. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $60.20. The company’s 50-day moving average is $57.99 and its 200 day moving average is $54.20. The firm has a market capitalization of $7.68 billion, a P/E ratio of 32.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.91.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Scotiabank increased their price target on First Industrial Realty Trust from $57.00 to $62.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 14th. Industrial Alliance Securities set a $67.00 price objective on First Industrial Realty Trust in a research note on Monday, January 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Industrial Realty Trust in a research report on Wednesday. Finally, Royal Bank Of Canada upped their price target on shares of First Industrial Realty Trust from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.46.

Insider Transactions at First Industrial Realty Trust

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 680 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total value of $39,691.60. Following the transaction, the executive owned 3,770 shares of the company’s stock, valued at $220,054.90. This represents a 15.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.06% of the stock is currently owned by insiders.

First Industrial Realty Trust Profile

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.