First Industrial Realty Trust, Inc. (NYSE:FR – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $64.81 and last traded at $65.0750, with a volume of 108265 shares. The stock had previously closed at $64.43.
Analyst Ratings Changes
Several analysts recently commented on the company. Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Truist Financial boosted their price target on First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. KeyCorp reissued a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. Robert W. Baird raised 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. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.93.
First Industrial Realty Trust Stock Up 0.4%
First Industrial Realty Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is presently 77.52%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of First Industrial Realty Trust by 29.7% during the second quarter. GAMMA Investing LLC now owns 2,999 shares of the real estate investment trust’s stock valued at $184,000 after acquiring an additional 686 shares during the period. Versant Capital Management Inc boosted its stake in First Industrial Realty Trust by 5.2% in the 2nd quarter. Versant Capital Management Inc now owns 8,283 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 408 shares during the period. Parallel Advisors LLC boosted its stake in First Industrial Realty Trust by 120.8% in the 1st quarter. Parallel Advisors LLC now owns 1,382 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 756 shares during the period. Bank of America Corp DE grew its position in First Industrial Realty Trust by 15.9% during the 1st quarter. Bank of America Corp DE now owns 778,077 shares of the real estate investment trust’s stock worth $45,012,000 after purchasing an additional 106,928 shares in the last quarter. Finally, Bull Harbor Capital LLC purchased a new position in First Industrial Realty Trust during the 1st quarter worth approximately $227,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.
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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