Diametric Capital LP Buys Shares of 4,246 First Industrial Realty Trust, Inc. (NYSE:FR)

Diametric Capital LP bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,246 shares of the real estate investment trust’s stock, valued at approximately $213,000.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in First Industrial Realty Trust during the fourth quarter worth about $90,489,000. Rush Island Management LP acquired a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $60,848,000. JPMorgan Chase & Co. raised its position in shares of First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after buying an additional 747,101 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in First Industrial Realty Trust by 290.6% in the third 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 acquiring an additional 665,920 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in First Industrial Realty Trust by 194.5% in the fourth quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust’s stock worth $41,564,000 after acquiring an additional 523,429 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FR shares. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 target price on the stock. Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price objective for the company from $52.00 to $59.00 in a research note on Friday, February 21st. Finally, Robert W. Baird upped their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, First Industrial Realty Trust currently has an average rating of “Hold” and an average price target of $58.38.

First Industrial Realty Trust Stock Up 0.3 %

First Industrial Realty Trust stock opened at $54.06 on Thursday. The stock has a 50-day simple moving average of $55.11 and a 200-day simple moving average of $53.68. The company has a market capitalization of $7.16 billion, a P/E ratio of 24.80 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $58.17.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share 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%. Equities research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a $0.445 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a yield of 3.29%. First Industrial Realty Trust’s payout ratio is currently 81.65%.

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.