Pacer Advisors Inc. Sells 13,969 Shares of First Industrial Realty Trust, Inc. $FR

Pacer Advisors Inc. lowered its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 14.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 80,214 shares of the real estate investment trust’s stock after selling 13,969 shares during the period. Pacer Advisors Inc. owned approximately 0.06% of First Industrial Realty Trust worth $4,594,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Kera Capital Partners Inc. increased its stake in First Industrial Realty Trust by 68.1% during the fourth quarter. Kera Capital Partners Inc. now owns 12,047 shares of the real estate investment trust’s stock valued at $699,000 after acquiring an additional 4,882 shares during the period. Corient Private Wealth LLC grew its holdings in shares of First Industrial Realty Trust by 430.8% during the 4th quarter. Corient Private Wealth LLC now owns 160,334 shares of the real estate investment trust’s stock worth $9,182,000 after purchasing an additional 130,129 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of First Industrial Realty Trust by 22.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 29,521 shares of the real estate investment trust’s stock worth $1,691,000 after purchasing an additional 5,340 shares in the last quarter. State of Tennessee Department of Treasury increased its position in shares of First Industrial Realty Trust by 1.7% during the fourth quarter. State of Tennessee Department of Treasury now owns 341,454 shares of the real estate investment trust’s stock valued at $19,815,000 after purchasing an additional 5,675 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in shares of First Industrial Realty Trust during the fourth quarter valued at approximately $790,000. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Up 2.2%

FR opened at $63.16 on Tuesday. The firm’s 50-day simple moving average is $62.13 and its 200-day simple moving average is $60.15. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust, Inc. has a twelve month low of $47.36 and a twelve month high of $64.66. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of 24.48 and a beta of 1.06.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed 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 is currently 77.52%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Truist Financial increased their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. KeyCorp reaffirmed a “sector weight” rating on shares of First Industrial Realty Trust in a report on Wednesday, June 10th. Finally, Scotiabank upped their price objective on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.20.

About First Industrial Realty Trust

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.