PNC Financial Services Group Inc. Decreases Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

PNC Financial Services Group Inc. lowered its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,739 shares of the real estate investment trust’s stock after selling 270 shares during the quarter. PNC Financial Services Group Inc.’s holdings in First Industrial Realty Trust were worth $460,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. State of Michigan Retirement System raised its position in shares of First Industrial Realty Trust by 0.6% during the 4th quarter. State of Michigan Retirement System now owns 31,768 shares of the real estate investment trust’s stock valued at $1,673,000 after buying an additional 200 shares in the last quarter. Natixis Advisors L.P. raised its position in First Industrial Realty Trust by 1.3% in the 3rd quarter. Natixis Advisors L.P. now owns 23,647 shares of the real estate investment trust’s stock worth $1,125,000 after purchasing an additional 303 shares during the period. Vanderbilt University raised its position in First Industrial Realty Trust by 6.7% in the 4th quarter. Vanderbilt University now owns 5,033 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 316 shares during the period. Cornercap Investment Counsel Inc. raised its position in First Industrial Realty Trust by 1.8% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 20,912 shares of the real estate investment trust’s stock worth $1,101,000 after purchasing an additional 363 shares during the period. Finally, CWM LLC raised its position in 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 purchasing an additional 390 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FR. Barclays reissued an “equal weight” rating and issued a $53.00 price objective (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Mizuho reissued a “buy” rating and issued a $58.00 price objective on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. Scotiabank reduced their price objective on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 16th. Robert W. Baird reduced their price objective 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, BNP Paribas started coverage on shares of First Industrial Realty Trust in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $53.42.

First Industrial Realty Trust Price Performance

NYSE FR opened at $47.12 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.25. The firm’s 50 day moving average price is $46.99 and its 200-day moving average price is $50.59. First Industrial Realty Trust, Inc. has a 52-week low of $40.44 and a 52-week high of $55.22. The company has a market cap of $6.24 billion, a PE ratio of 21.71 and a beta of 1.07.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.37 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.48 annualized dividend and a yield of 3.14%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 68.20%.

First Industrial Realty Trust 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.