Hsbc Holdings PLC Increases Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Hsbc Holdings PLC boosted its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 8.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 460,402 shares of the real estate investment trust’s stock after acquiring an additional 37,187 shares during the period. Hsbc Holdings PLC’s holdings in First Industrial Realty Trust were worth $23,064,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Synovus Financial Corp boosted its holdings in First Industrial Realty Trust by 96.3% in the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock valued at $1,588,000 after acquiring an additional 13,922 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of First Industrial Realty Trust by 42.9% during the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock valued at $10,546,000 after purchasing an additional 58,088 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of First Industrial Realty Trust during the fourth quarter valued at about $1,463,000. Barclays PLC raised its stake in First Industrial Realty Trust by 109.7% in the fourth quarter. Barclays PLC now owns 274,968 shares of the real estate investment trust’s stock worth $13,783,000 after buying an additional 143,857 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in First Industrial Realty Trust by 28.7% in the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after buying an additional 747,101 shares during the period. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

FR stock opened at $47.29 on Friday. The stock has a market capitalization of $6.26 billion, a PE ratio of 21.69 and a beta of 1.07. The stock’s 50 day simple moving average is $52.06 and its 200 day simple moving average is $52.49. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The business had revenue of $177.07 million for the quarter, compared to analysts’ expectations of $176.98 million. As a group, research analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.76%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, March 31st. First Industrial Realty Trust’s payout ratio is presently 88.12%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FR. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective for the company. The Goldman Sachs Group dropped their target price on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird increased 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. Finally, Scotiabank lowered their price target 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 report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.83.

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.