Texas Permanent School Fund Corp Acquires 1,499 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Texas Permanent School Fund Corp grew its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 1.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,766 shares of the real estate investment trust’s stock after purchasing an additional 1,499 shares during the period. Texas Permanent School Fund Corp owned about 0.09% of First Industrial Realty Trust worth $6,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new stake in First Industrial Realty Trust during the 4th quarter valued at $78,559,000. Frontier Capital Management Co. LLC grew its holdings in First Industrial Realty Trust by 788.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after acquiring an additional 1,105,286 shares in the last quarter. Centersquare Investment Management LLC increased its position in First Industrial Realty Trust by 23.6% during the 4th quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock valued at $239,728,000 after purchasing an additional 869,676 shares during the period. Lasalle Investment Management Securities LLC increased its position in First Industrial Realty Trust by 49.7% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,633,051 shares of the real estate investment trust’s stock valued at $86,013,000 after purchasing an additional 541,909 shares during the period. Finally, Crestline Management LP purchased a new stake in shares of First Industrial Realty Trust in the 4th quarter worth approximately $26,335,000. 99.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Robert W. Baird lowered their price target on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Scotiabank lowered their target price on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating for the company in a research note on Thursday, May 16th. Barclays reaffirmed an “equal weight” rating and set a $53.00 price target (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. BNP Paribas began coverage on First Industrial Realty Trust in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 price objective for the company. Finally, Wedbush cut First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $59.00 to $49.00 in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.42.

First Industrial Realty Trust Price Performance

Shares of NYSE FR traded up $0.34 during trading on Friday, hitting $50.93. The company had a trading volume of 13,458 shares, compared to its average volume of 1,034,355. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $55.15. 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 fifty day simple moving average of $47.38 and a two-hundred day simple moving average of $50.30. The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 23.31 and a beta of 1.07.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, June 28th. First Industrial Realty Trust’s dividend 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.