Sun Life Financial Inc. Cuts Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Sun Life Financial Inc. cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 94.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,318 shares of the real estate investment trust's stock after selling 239,538 shares during the quarter. First Industrial Realty Trust makes up approximately 0.1% of Sun Life Financial Inc.'s portfolio, making the stock its 15th largest holding. Sun Life Financial Inc.'s holdings in First Industrial Realty Trust were worth $701,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EdgeRock Capital LLC acquired a new stake in First Industrial Realty Trust during the fourth quarter worth about $56,000. CWM LLC increased its stake in First Industrial Realty Trust by 31.9% during the fourth quarter. CWM LLC now owns 1,613 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 390 shares during the last quarter. Covestor Ltd increased its stake in First Industrial Realty Trust by 14.0% during the third quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust's stock worth $93,000 after acquiring an additional 241 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in First Industrial Realty Trust during the fourth quarter worth about $153,000. Finally, Trust Point Inc. acquired a new stake in First Industrial Realty Trust during the fourth quarter worth about $204,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of FR stock traded down $0.40 during trading hours on Friday, hitting $47.72. The company had a trading volume of 438,721 shares, compared to its average volume of 1,144,047. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 22.17 and a beta of 1.05. First Industrial Realty Trust, Inc. has a 12 month low of $40.44 and a 12 month high of $55.22. The firm's fifty day moving average is $50.27 and its 200 day moving average is $49.99. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.25.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.48 dividend on an annualized basis and a yield of 3.10%. First Industrial Realty Trust's payout ratio is 68.20%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on First Industrial Realty Trust from $59.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, April 24th. Royal Bank of Canada increased their target price on First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Friday, February 16th. Wedbush downgraded First Industrial Realty Trust from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $59.00 to $49.00 in a report on Thursday, April 25th. Barclays reissued an "equal weight" rating and issued a $53.00 price target (down previously from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Finally, The Goldman Sachs Group lifted their target price on First Industrial Realty Trust from $41.00 to $47.00 and gave the company a "sell" rating in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $53.40.

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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