First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by National Bank of Canada FI

National Bank of Canada FI cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 69.4% during the fourth quarter, Holdings Channel reports. The firm owned 180,000 shares of the real estate investment trust’s stock after selling 408,340 shares during the quarter. National Bank of Canada FI’s holdings in First Industrial Realty Trust were worth $9,535,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in First Industrial Realty Trust by 5.5% in the third quarter. JPMorgan Chase & Co. now owns 3,024,655 shares of the real estate investment trust’s stock worth $143,943,000 after acquiring an additional 158,722 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of First Industrial Realty Trust by 22.0% during the third quarter. Hsbc Holdings PLC now owns 2,240,983 shares of the real estate investment trust’s stock worth $106,847,000 after purchasing an additional 403,887 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in First Industrial Realty Trust by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,981,370 shares of the real estate investment trust’s stock valued at $94,293,000 after buying an additional 51,831 shares during the last quarter. Victory Capital Management Inc. raised its stake in First Industrial Realty Trust by 2.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,855,763 shares of the real estate investment trust’s stock valued at $97,743,000 after buying an additional 40,364 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in First Industrial Realty Trust by 27.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,311,911 shares of the real estate investment trust’s stock worth $69,098,000 after buying an additional 283,634 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FR. Wedbush downgraded First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $59.00 to $49.00 in a report on Thursday, April 25th. Barclays reissued an “equal weight” rating and set a $53.00 price objective (down previously from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. 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 for the company in a report on Wednesday, April 24th. Robert W. Baird dropped their target price on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price objective on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Hold” and an average price target of $53.40.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $48.10 on Friday. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 22.17 and a beta of 1.05. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.25. First Industrial Realty Trust, Inc. has a 1-year low of $40.44 and a 1-year high of $55.22. The firm’s fifty day moving average price is $50.27 and its 200 day moving average price is $49.99.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, June 28th. First Industrial Realty Trust’s payout ratio is 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.