Principal Financial Group Inc. Sells 60,233 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Principal Financial Group Inc. decreased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 4.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,353,227 shares of the real estate investment trust's stock after selling 60,233 shares during the period. Principal Financial Group Inc. owned approximately 1.02% of First Industrial Realty Trust worth $73,020,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in First Industrial Realty Trust by 93.0% in the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 225 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of First Industrial Realty Trust during the 1st quarter worth about $26,000. Parallel Advisors LLC grew its holdings in shares of First Industrial Realty Trust by 285.1% in the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 821 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of First Industrial Realty Trust by 73.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust's stock valued at $68,000 after acquiring an additional 575 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of First Industrial Realty Trust by 22.2% in the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 236 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on FR shares. Scotiabank lifted their target price on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Barclays lowered their price target on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Royal Bank Of Canada lowered their price target on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company lowered their price target on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Finally, Wall Street Zen downgraded First Industrial Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $55.91.

First Industrial Realty Trust Stock Down 0.5%

NYSE FR traded down $0.23 during trading hours on Friday, hitting $49.17. The company's stock had a trading volume of 593,038 shares, compared to its average volume of 1,201,666. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The company has a market capitalization of $6.51 billion, a PE ratio of 24.34 and a beta of 1.07. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87. The company's 50-day simple moving average is $49.26 and its two-hundred day simple moving average is $51.09.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) 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 company had revenue of $177.07 million for the quarter, compared to analysts' expectations of $176.98 million. Research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be paid a $0.445 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.62%. First Industrial Realty Trust's dividend payout ratio is 88.12%.

First Industrial Realty Trust Profile

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.