First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by Blackstone Inc.

Blackstone Inc. cut its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 20.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,980,640 shares of the real estate investment trust's stock after selling 1,020,589 shares during the period. First Industrial Realty Trust makes up about 0.9% of Blackstone Inc.'s holdings, making the stock its 20th largest holding. Blackstone Inc. owned approximately 3.01% of First Industrial Realty Trust worth $199,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock valued at $214,401,000 after purchasing an additional 1,903,164 shares during the last quarter. Norges Bank acquired a new position in First Industrial Realty Trust in the fourth quarter valued at approximately $90,489,000. Argosy Lionbridge Management LLC purchased a new position in First Industrial Realty Trust in the fourth quarter worth approximately $26,447,000. Prudential Financial Inc. grew its position in First Industrial Realty Trust by 194.5% in the fourth quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust's stock worth $41,564,000 after acquiring an additional 523,429 shares during the period. Finally, Northern Trust Corp increased its stake in First Industrial Realty Trust by 41.2% during the fourth quarter. Northern Trust Corp now owns 1,554,330 shares of the real estate investment trust's stock worth $77,919,000 after acquiring an additional 453,465 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FR shares. The Goldman Sachs Group lowered their price target on 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. Barclays reduced their price target on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Royal Bank of Canada lowered 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 research report on Tuesday, April 29th. JPMorgan Chase & Co. cut their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Scotiabank lowered their price target on First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $57.08.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $49.03 on Monday. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17. The stock has a market capitalization of $6.49 billion, a PE ratio of 22.49 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a 50-day simple moving average of $51.26 and a 200-day simple moving average of $52.24.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly 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 10.64% and a net margin of 42.94%. The firm had revenue of $177.07 million for the quarter, compared to analyst estimates of $176.98 million. On average, analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

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

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