Retirement Systems of Alabama Has $20.10 Million Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Retirement Systems of Alabama boosted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 0.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 381,668 shares of the real estate investment trust’s stock after acquiring an additional 535 shares during the quarter. Retirement Systems of Alabama owned 0.29% of First Industrial Realty Trust worth $20,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC increased its stake in shares of First Industrial Realty Trust by 31.9% in 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 position in First Industrial Realty Trust by 14.0% in the 3rd quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 241 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of First Industrial Realty Trust during the 4th quarter worth about $153,000. Trust Point Inc. acquired a new stake in shares of First Industrial Realty Trust during the 4th quarter valued at about $204,000. Finally, DAVENPORT & Co LLC bought a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at approximately $209,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on FR. Wedbush downgraded shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $59.00 to $49.00 in a research report on Thursday, April 25th. Barclays reissued an “equal weight” rating and issued a $53.00 price objective (down from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Royal Bank of Canada upped their target price on First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Mizuho restated a “buy” rating and issued a $58.00 price objective on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Finally, TheStreet upgraded shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.11.

First Industrial Realty Trust Stock Up 1.1 %

Shares of FR opened at $46.49 on Tuesday. The business’s 50 day simple moving average is $51.39 and its 200-day simple moving average is $49.91. First Industrial Realty Trust, Inc. has a one year low of $40.44 and a one year high of $55.22. The company has a market capitalization of $6.15 billion, a P/E ratio of 21.42 and a beta of 1.01. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.25.

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 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.