Corebridge Financial Inc. Sells 6,742 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Corebridge Financial Inc. lessened its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,754 shares of the real estate investment trust’s stock after selling 6,742 shares during the period. Corebridge Financial Inc. owned 0.11% of First Industrial Realty Trust worth $7,507,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of FR. Versant Capital Management Inc grew its holdings in shares of First Industrial Realty Trust by 92.5% during the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 481 shares during the last quarter. UMB Bank n.a. grew its holdings in First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 214 shares during the last quarter. Venturi Wealth Management LLC increased its position in First Industrial Realty Trust by 200.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 747 shares during the period. Blue Trust Inc. increased its position in First Industrial Realty Trust by 30.7% in the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 292 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of First Industrial Realty Trust by 73.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 575 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Stock Down 1.2 %

Shares of NYSE FR opened at $53.60 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The firm has a market cap of $7.10 billion, a PE ratio of 24.59 and a beta of 1.07. The company’s fifty day simple moving average is $54.99 and its 200 day simple moving average is $53.74. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $58.17.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS 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%. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio is presently 81.65%.

Analysts Set New Price Targets

FR has been the topic of several analyst reports. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Robert W. Baird increased their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.38.

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.