Dockside LLC purchased a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR – Free Report) during the 4th quarter, Holdings Channel reports. The fund purchased 47,827 shares of the real estate investment trust’s stock, valued at approximately $2,739,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new stake in First Industrial Realty Trust during the 3rd quarter valued at $26,000. Parallel Advisors LLC raised its holdings in First Industrial Realty Trust by 86.9% during the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 291 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in First Industrial Realty Trust by 64.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 301 shares during the period. Danske Bank A S purchased a new stake in First Industrial Realty Trust during the 3rd quarter valued at $51,000. Finally, Parkside Financial Bank & Trust raised its holdings in First Industrial Realty Trust by 27.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 262 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on FR shares. Robert W. Baird increased their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Scotiabank increased their price target on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. KeyCorp reiterated a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday. Finally, Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.93.
First Industrial Realty Trust Stock Performance
FR stock opened at $63.49 on Friday. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 24.61 and a beta of 1.05. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.90. First Industrial Realty Trust, Inc. has a twelve month low of $47.36 and a twelve month high of $64.66. The business’s fifty day simple moving average is $61.77 and its two-hundred day simple moving average is $59.91.
First Industrial Realty Trust Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 77.52%.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.
Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.
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