Vestcor Inc Sells 50,886 Shares of First Industrial Realty Trust, Inc. $FR

Vestcor Inc cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 80.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,478 shares of the real estate investment trust’s stock after selling 50,886 shares during the period. Vestcor Inc’s holdings in First Industrial Realty Trust were worth $715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its stake in First Industrial Realty Trust by 856,065.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after purchasing an additional 9,784,830 shares during the last quarter. Norges Bank bought a new stake in First Industrial Realty Trust during the fourth quarter worth $320,075,000. Invesco Ltd. lifted its stake in First Industrial Realty Trust by 8.0% during the third quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock worth $223,571,000 after purchasing an additional 323,248 shares during the last quarter. Geode Capital Management LLC lifted its stake in First Industrial Realty Trust by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,629,908 shares of the real estate investment trust’s stock worth $150,644,000 after purchasing an additional 41,042 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in First Industrial Realty Trust by 70.8% during the third quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock worth $128,581,000 after purchasing an additional 1,035,385 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FR shares. Royal Bank Of Canada upped their target price on First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Citigroup upped their target price on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $65.00 price target on shares of First Industrial Realty Trust in a report on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.93.

First Industrial Realty Trust Stock Down 1.1%

Shares of NYSE:FR opened at $60.92 on Tuesday. The company has a fifty day moving average of $61.36 and a 200-day moving average of $59.73. The company has a market capitalization of $8.08 billion, a PE ratio of 23.61 and a beta of 1.06. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust, Inc. has a 52-week low of $47.36 and a 52-week high of $64.66.

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. First Industrial Realty Trust’s dividend payout ratio is 77.52%.

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.