Vestcor Inc Has $715,000 Stake in First Industrial Realty Trust, Inc. $FR

Vestcor Inc trimmed its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 80.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,478 shares of the real estate investment trust’s stock after selling 50,886 shares during the period. Vestcor Inc’s holdings in First Industrial Realty Trust were worth $715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FR. Measured Wealth Private Client Group LLC acquired a new stake in First Industrial Realty Trust in the third quarter valued at $26,000. Parallel Advisors LLC increased its holdings in First Industrial Realty Trust by 86.9% in the fourth quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 291 shares during the period. Danske Bank A S acquired a new stake in First Industrial Realty Trust in the third quarter valued at $51,000. Fulcrum Asset Management LLP acquired a new stake in First Industrial Realty Trust in the third quarter valued at $79,000. Finally, Advisory Services Network LLC acquired a new stake in First Industrial Realty Trust in the third quarter valued at $97,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Truist Financial increased their price target on First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Wells Fargo & Company decreased their price target on 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. Robert W. Baird increased their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Finally, Scotiabank increased their price target on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and an average price target of $63.93.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $60.92 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $61.36 and a two-hundred day moving average price of $59.73. First Industrial Realty Trust, Inc. has a 1-year low of $47.36 and a 1-year high of $64.66. The company has a market cap of $8.08 billion, a P/E ratio of 23.61 and a beta of 1.06.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio is 77.52%.

First Industrial Realty Trust Company 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.