First Industrial Realty Trust, Inc. (NYSE:FR) Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. raised its stake in First Industrial Realty Trust, Inc. (NYSE:FRFree Report) by 19.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,412 shares of the real estate investment trust’s stock after purchasing an additional 723 shares during the quarter. Shell Asset Management Co.’s holdings in First Industrial Realty Trust were worth $210,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in First Industrial Realty Trust by 7.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 29,226 shares of the real estate investment trust’s stock worth $1,538,000 after acquiring an additional 2,097 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in First Industrial Realty Trust by 2.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 145,950 shares of the real estate investment trust’s stock worth $6,946,000 after acquiring an additional 3,580 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in First Industrial Realty Trust in the second quarter worth approximately $131,000. M&T Bank Corp grew its position in First Industrial Realty Trust by 1.5% in the third quarter. M&T Bank Corp now owns 16,886 shares of the real estate investment trust’s stock worth $804,000 after acquiring an additional 250 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in First Industrial Realty Trust by 8.3% in the third quarter. California Public Employees Retirement System now owns 253,117 shares of the real estate investment trust’s stock worth $12,046,000 after acquiring an additional 19,455 shares in the last quarter. Institutional investors and hedge funds own 98.36% of the company’s stock.

Analyst Ratings Changes

FR has been the subject of several recent research reports. Truist Financial decreased their target price on shares of First Industrial Realty Trust from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. TheStreet raised shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Mizuho upped their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Wells Fargo & Company started coverage on shares of First Industrial Realty Trust in a report on Thursday, December 7th. They set an “equal weight” rating for the company. Finally, The Goldman Sachs Group upped their price objective on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.38.

Check Out Our Latest Analysis on First Industrial Realty Trust

First Industrial Realty Trust Price Performance

NYSE:FR opened at $54.27 on Monday. The stock has a market cap of $7.18 billion, a P/E ratio of 26.22 and a beta of 1.02. First Industrial Realty Trust, Inc. has a one year low of $40.44 and a one year high of $55.22. The company has a fifty day moving average price of $52.20 and a 200 day moving average price of $49.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 0.90.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a dividend of $0.37 per share. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a yield of 2.73%. The ex-dividend date is Wednesday, March 27th. First Industrial Realty Trust’s dividend payout ratio is presently 61.84%.

About First Industrial Realty Trust

(Free Report)

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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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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