Teacher Retirement System of Texas Reduces Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Teacher Retirement System of Texas lessened its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 36.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,185 shares of the real estate investment trust's stock after selling 34,827 shares during the quarter. Teacher Retirement System of Texas' holdings in First Industrial Realty Trust were worth $3,223,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in First Industrial Realty Trust by 3.1% in the third quarter. PNC Financial Services Group Inc. now owns 9,009 shares of the real estate investment trust's stock valued at $429,000 after purchasing an additional 275 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in First Industrial Realty Trust by 2.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 145,950 shares of the real estate investment trust's stock worth $6,946,000 after acquiring an additional 3,580 shares during the period. Cetera Trust Company N.A purchased a new position in First Industrial Realty Trust during the fourth quarter valued at approximately $237,000. Deutsche Bank AG lifted its holdings in First Industrial Realty Trust by 16.6% in the third quarter. Deutsche Bank AG now owns 223,882 shares of the real estate investment trust's stock valued at $10,655,000 after acquiring an additional 31,887 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in First Industrial Realty Trust by 93.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 45,086 shares of the real estate investment trust's stock worth $2,146,000 after purchasing an additional 21,780 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FR has been the subject of several analyst reports. Wedbush cut shares of First Industrial Realty Trust from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $59.00 to $49.00 in a research note on Thursday, April 25th. JPMorgan Chase & Co. lowered their target price on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 24th. Robert W. Baird dropped their target price on First Industrial Realty Trust from $62.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 1st. Barclays reaffirmed 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, Royal Bank of Canada raised their price objective on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, February 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of "Hold" and a consensus target price of $53.40.

First Industrial Realty Trust Price Performance

Shares of NYSE FR traded up $0.21 during midday trading on Wednesday, hitting $48.13. The stock had a trading volume of 798,610 shares, compared to its average volume of 1,148,221. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $49.95 and a 200-day simple moving average of $50.25. The company has a market capitalization of $6.37 billion, a PE ratio of 22.49 and a beta of 1.05. First Industrial Realty Trust, Inc. has a 1 year low of $40.44 and a 1 year high of $55.22.

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 issued 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 3.08%. First Industrial Realty Trust's payout ratio is currently 68.20%.

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.