First Industrial Realty Trust, Inc. (NYSE:FR) Stake Boosted by Texas Teachers’ Retirement System


Teacher Retirement System of Texas increased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:ENGet a rating) by 8.4% in the 1st quarter, according to its last Form 13F filed with the Securities and Exchange Commission. The fund held 26,925 shares of the real estate investment trust after buying an additional 2,079 shares during the quarter. Teacher Retirement System of Texas’ holdings in First Industrial Realty Trust were worth $1,667,000 when it last filed with the SEC.

Several other institutional investors have also recently changed their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings of First Industrial Realty Trust shares by 4.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 56,470 shares of the real estate investment trust valued at $3,496,000 after purchasing an additional 2,327 shares in the last quarter. M&T Bank Corp increased its holdings of First Industrial Realty Trust shares by 21.3% in the first quarter. M&T Bank Corp now owns 13,976 shares of the real estate investment trust valued at $864,000 after buying an additional 2,456 shares in the last quarter. National Bank of Canada FI increased its holdings of First Industrial Realty Trust shares by 175.1% in the first quarter. National Bank of Canada FI now owns 140,289 shares of the real estate investment trust worth $8,939,000 after purchasing an additional 89,289 shares in the last quarter. Baillie Gifford & Co. increased its holdings of First Industrial Realty Trust shares by 41.8% in the first quarter. Baillie Gifford & Co. now owns 1,777,418 shares of the real estate investment trust valued at $110,040,000 after buying an additional 524,032 shares in the last quarter. Finally, the New York State Common Retirement Fund increased its holdings in First Industrial Realty Trust by 2.0% in the 1st quarter. The New York State Common Retirement Fund now owns 148,800 shares of the real estate investment trust worth $9,212,000 after buying 2,933 additional shares in the last quarter. 96.39% of the shares are held by institutional investors.

Analyst upgrades and downgrades

A number of stock analysts have recently released reports on the company. Goldman Sachs Group cut its price target on First Industrial Realty Trust from $70.00 to $61.00 and set a “neutral” rating for the company in a Thursday, June 16 report. Jefferies Financial Group cut its price target on First Industrial Realty Trust from $62.00 to $55.00 and set a “buy” rating for the company in a Thursday, June 30 report. Truist Financial cut its price target on First Industrial Realty Trust from $66.00 to $63.00 in a Monday, May 16 report. Mizuho cut its price target on First Industrial Realty Trust from $64.00 to $55.00 and set an “na” rating for the company in a Tuesday, May 17 report. Finally, Robert W. Baird raised his target price on First Industrial Realty Trust from $69.00 to $75.00 in a Friday, July 22 research report. Three investment analysts gave the stock a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of ‘Moderate Buy’ and a consensus price target of $54.33.

First Industrial Realty Trust Price Performance

Shares of NYSE:EN opened at $55.28 on Monday. First Industrial Realty Trust, Inc. has a one-year low of $45.79 and a one-year high of $66.74. The stock has a fifty-day moving average of $49.50 and a 200-day moving average of $55.18. The company has a market capitalization of $7.30 billion, a PE ratio of 23.52 and a beta of 0.96. The company has a debt ratio of 0.80, a quick ratio of 0.99 and a current ratio of 0.99.

First Industrial Real Estate Trust (NYSE:ENGet a rating) last reported quarterly earnings data on Wednesday, July 20. The real estate investment trust reported EPS of $0.88 for the quarter, beating consensus analyst estimates of $0.53 from $0.35. First Industrial Realty Trust had a return on equity of 13.84% and a net margin of 62.25%. The company had revenue of $130.00 million in the quarter, versus a consensus estimate of $127.55 million. In the same quarter of the previous year, the company achieved EPS of $0.48. The company’s quarterly revenue increased by 10.7% compared to the same quarter last year. As a group, equity analysts expect First Industrial Realty Trust, Inc. to post 2.19 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 17. Shareholders of record on Friday, September 30 will receive a dividend of $0.295 per share. The ex-date of this dividend is Thursday, September 29. This represents a dividend of $1.18 on an annualized basis and a dividend yield of 2.13%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 50.21%.

Company Profile First Industrial Realty Trust

(Get a rating)

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator and developer of industrial real estate. In major US markets, our local market experts manage, lease, buy, (re)develop and sell bulk and regional distribution centers, light industrial facilities and other types of industrial facilities.

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Institutional ownership by quarter for First Industrial Realty Trust (NYSE:FR)



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