Global Retirement Partners LLC Purchases 979 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Global Retirement Partners LLC grew its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 28.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,392 shares of the real estate investment trust’s stock after acquiring an additional 979 shares during the quarter. Global Retirement Partners LLC’s holdings in First Industrial Realty Trust were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Rush Island Management LP bought a new position in shares of First Industrial Realty Trust in the 3rd quarter valued at about $60,848,000. JPMorgan Chase & Co. raised its position in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after purchasing an additional 747,101 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of First Industrial Realty Trust by 290.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock valued at $50,105,000 after purchasing an additional 665,920 shares during the last quarter. Zimmer Partners LP purchased a new position in shares of First Industrial Realty Trust in the 3rd quarter worth approximately $18,649,000. Finally, NFJ Investment Group LLC purchased a new position in shares of First Industrial Realty Trust in the 3rd quarter worth approximately $7,778,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Performance

FR stock opened at $56.69 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $57.35. The business has a 50-day moving average price of $52.34 and a 200 day moving average price of $53.67. The company has a market capitalization of $7.51 billion, a P/E ratio of 26.01 and a beta of 1.09.

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 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%. As a group, equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.14%. 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 presently 81.65%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target for the company. Robert W. Baird lifted their price target on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their target price for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Finally, Barclays cut their target price 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. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.31.

First Industrial Realty Trust 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.