Principal Financial Group Inc. Reduces Stake in First Industrial Realty Trust, Inc. $FR

Principal Financial Group Inc. cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,173,743 shares of the real estate investment trust’s stock after selling 86,441 shares during the period. Principal Financial Group Inc.’s holdings in First Industrial Realty Trust were worth $60,413,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Jump Financial LLC bought a new position in First Industrial Realty Trust in the second quarter worth $4,795,000. Bank of Stockton bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at $946,000. Inscription Capital LLC grew its position in shares of First Industrial Realty Trust by 391.4% in the 3rd quarter. Inscription Capital LLC now owns 22,641 shares of the real estate investment trust’s stock worth $1,165,000 after buying an additional 18,034 shares during the period. SG Americas Securities LLC increased its stake in shares of First Industrial Realty Trust by 1,112.1% in the 3rd quarter. SG Americas Securities LLC now owns 82,979 shares of the real estate investment trust’s stock worth $4,271,000 after acquiring an additional 76,133 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in First Industrial Realty Trust by 3.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,134,890 shares of the real estate investment trust’s stock valued at $109,883,000 after acquiring an additional 63,112 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $58.26 on Wednesday. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 32.55 and a beta of 1.14. The business’s fifty day simple moving average is $58.03 and its two-hundred day simple moving average is $54.35. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $60.20. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88.

Analyst Upgrades and Downgrades

FR has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of First Industrial Realty Trust from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. upped their price target on First Industrial Realty Trust from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. UBS Group set a $62.00 price objective on First Industrial Realty Trust in a research note on Thursday, December 4th. Royal Bank Of Canada boosted their target price on First Industrial Realty Trust from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, Robert W. Baird set a $64.00 price target on First Industrial Realty Trust in a report on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.46.

Insider Activity at First Industrial Realty Trust

In related news, CIO Johannson L. Yap sold 680 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total transaction of $39,691.60. Following the sale, the executive directly owned 3,770 shares of the company’s stock, valued at $220,054.90. This trade represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.94% of the stock is owned by company insiders.

First Industrial Realty Trust 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.