First Industrial Realty Trust, Inc. $FR Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 3.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 295,845 shares of the real estate investment trust’s stock after buying an additional 10,914 shares during the period. Principal Financial Group Inc. owned about 0.22% of First Industrial Realty Trust worth $17,115,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in First Industrial Realty Trust by 41.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock worth $45,301,000 after purchasing an additional 244,562 shares during the period. First Trust Advisors LP grew its holdings in First Industrial Realty Trust by 141.1% in the second quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust’s stock valued at $4,181,000 after purchasing an additional 50,839 shares during the period. Baird Financial Group Inc. grew its holdings in First Industrial Realty Trust by 4.4% in the second quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust’s stock valued at $2,685,000 after purchasing an additional 2,356 shares during the period. Cresset Asset Management LLC purchased a new stake in shares of First Industrial Realty Trust in the second quarter valued at approximately $275,000. Finally, Cerity Partners LLC increased its position in shares of First Industrial Realty Trust by 463.4% in the second quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust’s stock valued at $3,033,000 after buying an additional 51,828 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR opened at $67.76 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. First Industrial Realty Trust, Inc. has a 1 year low of $47.38 and a 1 year high of $69.88. The firm has a market capitalization of $8.98 billion, a PE ratio of 26.26 and a beta of 1.05. The business’s 50 day moving average price is $63.24 and its 200-day moving average price is $61.21.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. First Industrial Realty Trust’s dividend payout ratio is presently 77.52%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FR shares. Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Wells Fargo & Company cut their price target on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Robert W. Baird increased their price objective on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Barclays increased their price objective on shares of First Industrial Realty Trust from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.29.

First Industrial Realty Trust 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.