First Industrial Realty Trust, Inc. $FR Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in First Industrial Realty Trust by 21.7% in Q1, buying 16,273 additional shares and bringing its total to 91,396 shares worth about $5.29 million.
• Several other institutional investors also increased or initiated positions, and hedge funds and other institutions now own 99.85% of the company’s stock.
• First Industrial Realty Trust recently declared a quarterly dividend of $0.50 per share, which implies an annualized payout of $2.00 and a yield of about 3.1%; analysts currently rate the stock a Moderate Buy with an average target price of $63.93.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 21.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 91,396 shares of the real estate investment trust's stock after purchasing an additional 16,273 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.07% of First Industrial Realty Trust worth $5,287,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. 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 in the last quarter. Norges Bank acquired a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at $320,075,000. Invesco Ltd. grew its stake in shares of First Industrial Realty Trust by 8.0% in the third quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust's stock valued at $223,571,000 after buying an additional 323,248 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in shares of First Industrial Realty Trust by 10.5% in the 4th quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust's stock valued at $151,752,000 after buying an additional 252,650 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of First Industrial Realty Trust by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,629,908 shares of the real estate investment trust's stock valued at $150,644,000 after buying an additional 41,042 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

FR stock opened at $64.79 on Wednesday. The business's 50-day moving average is $62.57 and its two-hundred day moving average is $60.78. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $8.59 billion, a P/E ratio of 25.11 and a beta of 1.05. First Industrial Realty Trust, Inc. has a 1 year low of $47.38 and a 1 year high of $65.74.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust's dividend payout ratio is presently 77.52%.

Analyst Ratings Changes

A number of equities analysts recently commented on FR shares. Raymond James Financial restated a "strong-buy" rating on shares of First Industrial Realty Trust in a report on Thursday, June 18th. Truist Financial boosted their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Wells Fargo & Company lowered their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an "equal weight" rating for the company in a research note on Monday, June 1st. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.93.

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.

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