PGGM Investments Buys 736,477 Shares of First Industrial Realty Trust, Inc. $FR

PGGM Investments increased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 46.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,337,100 shares of the real estate investment trust’s stock after acquiring an additional 736,477 shares during the quarter. First Industrial Realty Trust accounts for 1.9% of PGGM Investments’ portfolio, making the stock its 18th largest holding. PGGM Investments’ holdings in First Industrial Realty Trust were worth $120,291,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of First Industrial Realty Trust by 390.1% in the 3rd quarter. Versant Capital Management Inc now owns 3,891 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 3,097 shares in the last quarter. Kera Capital Partners Inc. increased its stake in First Industrial Realty Trust by 24.6% in the third quarter. Kera Capital Partners Inc. now owns 7,165 shares of the real estate investment trust’s stock valued at $369,000 after acquiring an additional 1,415 shares during the last quarter. Liberty One Investment Management LLC raised its position in First Industrial Realty Trust by 31.0% during the third quarter. Liberty One Investment Management LLC now owns 127,936 shares of the real estate investment trust’s stock valued at $6,585,000 after purchasing an additional 30,289 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in First Industrial Realty Trust by 9.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 915,239 shares of the real estate investment trust’s stock worth $47,107,000 after purchasing an additional 78,232 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at $689,000. 99.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on FR shares. Robert W. Baird set a $64.00 price target on First Industrial Realty Trust in a report on Thursday, January 8th. Wells Fargo & Company boosted their target price on First Industrial Realty Trust from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, October 27th. Mizuho increased their target price on shares of First Industrial Realty Trust from $56.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th. The Goldman Sachs Group raised their price target on shares of First Industrial Realty Trust from $53.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Finally, Barclays reiterated a “positive” rating and set a $64.00 price objective on shares of First Industrial Realty Trust in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.69.

Insider Activity

In other news, CIO Johannson L. Yap sold 680 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total transaction of $39,691.60. Following the completion of the transaction, the executive owned 3,770 shares of the company’s stock, valued at approximately $220,054.90. This trade represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.06% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $59.34 on Friday. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 33.15 and a beta of 1.14. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88. The business’s 50-day moving average price is $57.50 and its 200-day moving average price is $53.46. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $60.00.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The company had revenue of $181.43 million during the quarter, compared to the consensus estimate of $182.63 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Wednesday, December 31st will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is 99.44%.

First Industrial Realty Trust Company Profile

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.