Daiwa Securities Group Inc. Reduces Position in First Industrial Realty Trust, Inc. $FR

Daiwa Securities Group Inc. decreased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,663 shares of the real estate investment trust’s stock after selling 64,811 shares during the quarter. Daiwa Securities Group Inc. owned about 0.20% of First Industrial Realty Trust worth $15,329,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FR. Goldman Sachs Group Inc. grew its holdings in shares of First Industrial Realty Trust by 41.1% during the first quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock worth $45,301,000 after buying an additional 244,562 shares in the last quarter. First Trust Advisors LP grew its holdings in First Industrial Realty Trust by 141.1% in the 2nd quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust’s stock valued at $4,181,000 after buying an additional 50,839 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of First Industrial Realty Trust by 4.4% in the 2nd quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust’s stock worth $2,685,000 after acquiring an additional 2,356 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of First Industrial Realty Trust in the 2nd quarter worth $275,000. Finally, Cerity Partners LLC increased its stake in shares of First Industrial Realty Trust by 463.4% in the 2nd quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust’s stock worth $3,033,000 after acquiring an additional 51,828 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Down 0.2%

Shares of FR opened at $61.54 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. First Industrial Realty Trust, Inc. has a 12-month low of $47.36 and a 12-month high of $64.66. The firm has a 50-day moving average price of $61.31 and a 200 day moving average price of $59.67. The firm has a market capitalization of $8.16 billion, a P/E ratio of 23.85 and a beta of 1.05.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 77.52%.

Wall Street Analysts Forecast Growth

FR has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 target price on shares of First Industrial Realty Trust in a research note on Monday, April 27th. Truist Financial upped their price objective on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Wells Fargo & Company dropped their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Finally, Robert W. Baird upped their price objective on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.93.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.