First Industrial Realty Trust, Inc. $FR Shares Sold by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System cut its stake in First Industrial Realty Trust by 34.1% in the first quarter, selling 17,015 shares and leaving it with 32,928 shares valued at about $1.9 million.
• First Industrial Realty Trust's stock rose 0.3% to $65.06, near its 12-month high of $65.53, with a market cap of $8.63 billion and a dividend yield of 3.1%.
• The company declared a quarterly dividend of $0.50 per share, payable July 20, while analysts currently rate the stock a consensus Moderate Buy with a $63.93 price target.

New York State Teachers Retirement System trimmed its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 34.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,928 shares of the real estate investment trust's stock after selling 17,015 shares during the period. New York State Teachers Retirement System's holdings in First Industrial Realty Trust were worth $1,905,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC acquired a new position in First Industrial Realty Trust in the third quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in shares of First Industrial Realty Trust by 86.9% during the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 291 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of First Industrial Realty Trust by 64.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 301 shares during the period. Danske Bank A S purchased a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at approximately $51,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of First Industrial Realty Trust by 27.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 262 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Up 0.3%

FR stock opened at $65.06 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. First Industrial Realty Trust, Inc. has a 12-month low of $47.38 and a 12-month high of $65.53. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 25.22 and a beta of 1.05. The business's 50-day moving average is $62.45 and its 200 day moving average is $60.66.

First Industrial Realty Trust Announces Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on FR. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Truist Financial raised their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. KeyCorp reiterated a "sector weight" rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $63.93.

First Industrial Realty Trust Company 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.

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