First Industrial Realty Trust, Inc. (NYSE:FR) Stake Cut by abrdn plc

abrdn plc decreased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 8.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,345 shares of the real estate investment trust’s stock after selling 2,480 shares during the period. abrdn plc’s holdings in First Industrial Realty Trust were worth $1,335,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of First Industrial Realty Trust by 27.7% during the 3rd quarter. SG Americas Securities LLC now owns 20,506 shares of the real estate investment trust’s stock worth $976,000 after purchasing an additional 4,447 shares during the period. Commonwealth Equity Services LLC increased its position in First Industrial Realty Trust by 6.2% in the third quarter. Commonwealth Equity Services LLC now owns 74,187 shares of the real estate investment trust’s stock worth $3,531,000 after buying an additional 4,362 shares during the period. Raymond James & Associates lifted its stake in First Industrial Realty Trust by 8.0% in the third quarter. Raymond James & Associates now owns 18,098 shares of the real estate investment trust’s stock valued at $861,000 after buying an additional 1,344 shares during the last quarter. Bailard Inc. boosted its holdings in shares of First Industrial Realty Trust by 34.5% during the third quarter. Bailard Inc. now owns 16,000 shares of the real estate investment trust’s stock valued at $761,000 after acquiring an additional 4,100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of First Industrial Realty Trust by 9.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,536 shares of the real estate investment trust’s stock worth $3,452,000 after acquiring an additional 6,203 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $46.49 on Tuesday. First Industrial Realty Trust, Inc. has a 52 week low of $40.44 and a 52 week high of $55.22. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock has a market cap of $6.15 billion, a PE ratio of 21.42 and a beta of 1.01. The company’s 50-day moving average price is $51.39 and its two-hundred day moving average price is $49.91.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.18%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, March 27th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FR. Barclays reiterated an “equal weight” rating and issued a $53.00 price objective (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. The Goldman Sachs Group boosted their price objective on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Truist Financial lifted their target price on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Mizuho reissued a “buy” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Finally, TheStreet upgraded shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, First Industrial Realty Trust presently has an average rating of “Hold” and a consensus target price of $53.11.

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.