Sumitomo Mitsui Trust Group Inc. Has $44.22 Million Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Sumitomo Mitsui Trust Group Inc. decreased its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 31.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 819,472 shares of the real estate investment trust's stock after selling 371,856 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.62% of First Industrial Realty Trust worth $44,219,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bessemer Group Inc. grew its holdings in shares of First Industrial Realty Trust by 93.0% during the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after buying an additional 225 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of First Industrial Realty Trust in the first quarter worth $26,000. Parallel Advisors LLC raised its stake 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 during the period. Fifth Third Bancorp raised its stake in shares of First Industrial Realty Trust by 22.2% in the 1st 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 period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of First Industrial Realty Trust by 73.2% during 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. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

FR traded down $0.17 during trading hours on Thursday, hitting $49.24. The company's stock had a trading volume of 128,671 shares, compared to its average volume of 1,193,295. The firm has a market capitalization of $6.52 billion, a PE ratio of 24.38 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. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The company has a 50-day simple moving average of $49.19 and a 200 day simple moving average of $51.13.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 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 firm had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust's dividend payout ratio is 88.12%.

Analyst Ratings Changes

FR has been the topic of several recent research reports. Barclays reduced 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. Scotiabank lifted their price target on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Royal Bank Of Canada cut their price objective on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Robert W. Baird decreased their price target on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $55.91.

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.