First Industrial Realty Trust, Inc. $FR Stake Lessened by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC lessened its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,345,292 shares of the real estate investment trust’s stock after selling 92,720 shares during the period. First Industrial Realty Trust comprises about 2.0% of Cbre Investment Management Listed Real Assets LLC’s investment portfolio, making the stock its 17th largest position. Cbre Investment Management Listed Real Assets LLC’s holdings in First Industrial Realty Trust were worth $134,315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in First Industrial Realty Trust by 41.1% during the first quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock valued at $45,301,000 after purchasing an additional 244,562 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of First Industrial Realty Trust by 141.1% during the second quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust’s stock valued at $4,181,000 after acquiring an additional 50,839 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of First Industrial Realty Trust by 4.4% during the second quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust’s stock valued at $2,685,000 after acquiring an additional 2,356 shares during the period. Cresset Asset Management LLC acquired a new position in shares of First Industrial Realty Trust during the second quarter valued at $275,000. Finally, Cerity Partners LLC boosted its holdings in shares of First Industrial Realty Trust by 463.4% during the second quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust’s stock valued at $3,033,000 after acquiring an additional 51,828 shares during the period. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Scotiabank boosted their price objective 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. Cantor Fitzgerald restated a “neutral” rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a report on Monday, April 27th. Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Finally, Citigroup boosted their price objective on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.93.

First Industrial Realty Trust Trading Down 3.5%

Shares of NYSE FR opened at $59.71 on Tuesday. The business has a 50 day simple moving average of $61.05 and a 200 day simple moving average of $59.55. First Industrial Realty Trust, Inc. has a 52 week low of $47.36 and a 52 week high of $64.66. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 23.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04.

First Industrial Realty Trust Dividend Announcement

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

About First Industrial Realty Trust

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.