Park Avenue Securities LLC Decreases Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Park Avenue Securities LLC lessened its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,822 shares of the real estate investment trust’s stock after selling 426 shares during the period. Park Avenue Securities LLC’s holdings in First Industrial Realty Trust were worth $464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in shares of First Industrial Realty Trust in the 1st quarter worth $50,000. EdgeRock Capital LLC acquired a new stake in First Industrial Realty Trust in the fourth quarter worth about $56,000. C M Bidwell & Associates Ltd. grew its stake in shares of First Industrial Realty Trust by 119.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 765 shares during the last quarter. Ables Iannone Moore & Associates Inc. acquired a new position in shares of First Industrial Realty Trust during the fourth quarter valued at about $82,000. Finally, CWM LLC increased its holdings in shares of 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 valued at $85,000 after acquiring an additional 390 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FR has been the topic of several research analyst reports. Robert W. Baird dropped their target price on shares of 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 reissued an “equal weight” rating and set a $53.00 price objective (down from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Wedbush lowered First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $59.00 to $49.00 in a research note on Thursday, April 25th. BNP Paribas began coverage on First Industrial Realty Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price target on the stock. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.42.

First Industrial Realty Trust Stock Performance

FR opened at $47.51 on Friday. The stock has a market cap of $6.29 billion, a P/E ratio of 21.89 and a beta of 1.07. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a fifty day moving average price of $47.02 and a 200 day moving average price of $50.58. 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 announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Friday, June 28th. First Industrial Realty Trust’s payout ratio is currently 68.20%.

First Industrial Realty Trust Company 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.