16,336 Shares in First Industrial Realty Trust, Inc. (NYSE:FR) Bought by Friedenthal Financial

Friedenthal Financial acquired a new position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,336 shares of the real estate investment trust's stock, valued at approximately $881,000.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in First Industrial Realty Trust by 11.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 20,931 shares of the real estate investment trust's stock valued at $1,036,000 after acquiring an additional 2,088 shares during the period. Van ECK Associates Corp boosted its holdings in First Industrial Realty Trust by 0.6% during the fourth quarter. Van ECK Associates Corp now owns 52,507 shares of the real estate investment trust's stock valued at $2,632,000 after acquiring an additional 337 shares during the period. New York State Teachers Retirement System boosted its holdings in First Industrial Realty Trust by 34.2% during the fourth quarter. New York State Teachers Retirement System now owns 49,978 shares of the real estate investment trust's stock valued at $2,505,000 after acquiring an additional 12,743 shares during the period. Blue Trust Inc. boosted its holdings in First Industrial Realty Trust by 30.7% during the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 292 shares during the period. Finally, Principal Securities Inc. boosted its holdings in First Industrial Realty Trust by 9.3% during the fourth quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust's stock valued at $158,000 after acquiring an additional 269 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. The Goldman Sachs Group dropped their price objective on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Royal Bank Of Canada dropped their price objective on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company lowered their price target on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Finally, Truist Financial reduced their price objective on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $55.91.

First Industrial Realty Trust Trading Up 0.7%

FR opened at $49.09 on Thursday. The stock has a market capitalization of $6.50 billion, a P/E ratio of 24.30 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The firm's fifty day simple moving average is $48.65 and its 200 day simple moving average is $51.35. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a return on equity of 9.82% and a net margin of 39.04%. The firm had revenue of $177.07 million for the quarter, compared to analyst estimates of $176.98 million. As a group, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 88.12%.

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.

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