State of New Jersey Common Pension Fund D Grows Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

State of New Jersey Common Pension Fund D lifted its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,688 shares of the real estate investment trust’s stock after buying an additional 4,635 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in First Industrial Realty Trust were worth $2,880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FR. CWM LLC grew its position in shares of First Industrial Realty Trust by 31.9% in the 4th quarter. CWM LLC now owns 1,613 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 390 shares during the period. Covestor Ltd boosted its stake in First Industrial Realty Trust by 14.0% in the 3rd quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 241 shares in the last quarter. International Assets Investment Management LLC bought a new position in First Industrial Realty Trust in the 4th quarter worth about $153,000. Trust Point Inc. bought a new position in First Industrial Realty Trust in the 4th quarter worth about $204,000. Finally, DAVENPORT & Co LLC bought a new position in First Industrial Realty Trust in the 4th quarter worth about $209,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FR has been the topic of a number of analyst reports. Truist Financial upped their price target on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Wedbush cut shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $59.00 to $49.00 in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Mizuho restated a “buy” rating and set a $58.00 target price on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada upped their target price on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $53.11.

First Industrial Realty Trust Price Performance

NYSE FR opened at $46.00 on Monday. First Industrial Realty Trust, Inc. has a 52 week low of $40.44 and a 52 week high of $55.22. The firm has a market capitalization of $6.09 billion, a P/E ratio of 21.20 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The company has a 50-day moving average price of $51.55 and a 200-day moving average price of $49.90.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.48 annualized dividend and a dividend yield of 3.22%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

First Industrial Realty Trust Company Profile

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.