Sumitomo Mitsui Trust Group Inc. Has $59.72 Million Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 5.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,191,328 shares of the real estate investment trust’s stock after selling 71,866 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in First Industrial Realty Trust were worth $59,721,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of First Industrial Realty Trust in the third quarter worth approximately $28,000. UMB Bank n.a. grew its position in First Industrial Realty Trust by 116.2% during the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 466 shares in the last quarter. Blue Trust Inc. raised its stake in First Industrial Realty Trust by 201.9% during the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 636 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of First Industrial Realty Trust by 77.4% in the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 417 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position 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 worth $50,000 after buying an additional 481 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FR shares. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. Barclays reduced their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Finally, 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. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Hold” and a consensus price target of $57.38.

First Industrial Realty Trust Stock Down 0.5 %

First Industrial Realty Trust stock opened at $54.87 on Monday. The company has a market capitalization of $7.26 billion, a P/E ratio of 25.17 and a beta of 1.09. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $57.35. The firm’s fifty day simple moving average is $51.61 and its 200-day simple moving average is $53.50. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

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

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a yield of 3.24%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio is presently 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.