First Industrial Realty Trust, Inc. (NYSE:FR) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 0.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 52,507 shares of the real estate investment trust’s stock after acquiring an additional 337 shares during the quarter. Van ECK Associates Corp’s holdings in First Industrial Realty Trust were worth $2,632,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Synovus Financial Corp grew its holdings in First Industrial Realty Trust by 96.3% during the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock worth $1,588,000 after acquiring an additional 13,922 shares during the period. Franklin Resources Inc. increased its stake in First Industrial Realty Trust by 42.9% in the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock worth $10,546,000 after purchasing an additional 58,088 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in First Industrial Realty Trust by 2,886.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,843 shares of the real estate investment trust’s stock worth $1,055,000 after purchasing an additional 18,212 shares in the last quarter. Commerce Bank purchased a new position in First Industrial Realty Trust in the 3rd quarter worth about $4,817,000. Finally, JPMorgan Chase & Co. increased its stake in First Industrial Realty Trust by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after purchasing an additional 747,101 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Up 0.3 %

Shares of NYSE FR opened at $55.78 on Friday. First Industrial Realty Trust, Inc. has a one year low of $45.10 and a one year high of $57.35. The firm has a market capitalization of $7.38 billion, a PE ratio of 25.59 and a beta of 1.09. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $52.20 and a two-hundred day moving average price of $53.60.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.19%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s payout ratio is currently 67.89%.

Wall Street Analyst Weigh In

FR has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Robert W. Baird lifted their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Barclays dropped their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Industrial Realty Trust currently has an average rating of “Hold” and an average price target of $57.77.

About First Industrial Realty Trust

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.