By otakuyassine3@gmail.com 
Wellington Management Group LLP decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR – Free Report) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 231,290 shares of the real estate investment trust’s stock after selling 10,864 shares during the quarter. Wellington Management Group LLP’s holdings in First Industrial Realty Trust were worth $11,595,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. Howard Capital Management Group LLC acquired a new position in shares of First Industrial Realty Trust during the third quarter worth $206,000. FMR LLC grew its stake in shares of First Industrial Realty Trust by 6.2% during the third quarter. FMR LLC now owns 326,754 shares of the real estate investment trust’s stock worth $18,292,000 after purchasing an additional 18,958 shares in the last quarter. Stifel Financial Corp grew its stake in shares of First Industrial Realty Trust by 1.1% during the third quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock worth $1,450,000 after purchasing an additional 278 shares in the last quarter. Jane Street Group LLC grew its stake in shares of First Industrial Realty Trust by 44.2% during the third quarter. Jane Street Group LLC now owns 124,737 shares of the real estate investment trust’s stock worth $6,983,000 after purchasing an additional 38,228 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of First Industrial Realty Trust during the third quarter worth $510,000. Institutional investors and hedge funds own 99.85% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently commented on the stock. Scotiabank lowered their target price on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective for the company. Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. Robert W. Baird upped their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and upped their price objective for the company from $52.00 to $59.00 in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, First Industrial Realty Trust presently has an average rating of “Hold” and a consensus target price of $57.77.
First Industrial Realty Trust Price Performance
Shares of NYSE:FR opened at $46.32 on Thursday. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 21.25 and a beta of 1.07. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The company has a 50-day simple moving average of $54.07 and a 200-day simple moving average of $53.20. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.
First Industrial Realty Trust (NYSE:FR – Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.
First Industrial Realty Trust Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a dividend of $0.445 per share. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.84%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio is currently 81.65%.
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.
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