Corebridge Financial Inc. Sells 6,742 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Corebridge Financial Inc. lowered its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 4.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 149,754 shares of the real estate investment trust’s stock after selling 6,742 shares during the period. Corebridge Financial Inc.’s holdings in First Industrial Realty Trust were worth $7,507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of First Industrial Realty Trust by 92.5% in the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 481 shares in the last quarter. UMB Bank n.a. lifted its stake in First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 214 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 747 shares during the last quarter. Blue Trust Inc. grew its stake in shares of First Industrial Realty Trust by 30.7% in the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 292 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of First Industrial Realty Trust by 73.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 575 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FR shares. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 target price for the company. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $52.00 to $59.00 in a report on Friday, February 21st. Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday. Finally, Robert W. Baird lifted their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of “Hold” and an average price target of $58.38.

First Industrial Realty Trust Price Performance

NYSE FR opened at $53.60 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The company has a market cap of $7.10 billion, a PE ratio of 24.59 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $58.17. The firm’s 50-day simple moving average is $54.99 and its two-hundred day simple moving average is $53.74.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. Research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a $0.445 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a dividend yield of 3.32%. First Industrial Realty Trust’s payout ratio is 81.65%.

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.