Franklin Resources Inc. Purchases 70,971 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Franklin Resources Inc. increased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 36.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 264,503 shares of the real estate investment trust’s stock after buying an additional 70,971 shares during the quarter. Franklin Resources Inc.’s holdings in First Industrial Realty Trust were worth $13,260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc boosted its holdings in First Industrial Realty Trust by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock valued at $205,000 after acquiring an additional 210 shares during the period. UMB Bank n.a. grew its holdings in First Industrial Realty Trust by 24.7% in the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 214 shares during the last quarter. Principal Securities Inc. increased its position in First Industrial Realty Trust by 9.3% in the 4th quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 269 shares during the period. Stifel Financial Corp lifted its holdings in shares of First Industrial Realty Trust by 1.1% during the third quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock worth $1,450,000 after buying an additional 278 shares during the last quarter. Finally, Fortem Financial Group LLC boosted its position in shares of First Industrial Realty Trust by 2.9% in the fourth quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust’s stock valued at $517,000 after acquiring an additional 292 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Down 5.1 %

Shares of NYSE:FR opened at $45.26 on Tuesday. The company has a market capitalization of $5.99 billion, a PE ratio of 20.76 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. The company’s fifty day moving average is $54.77 and its 200-day moving average is $53.48. First Industrial Realty Trust, Inc. has a 52 week low of $44.01 and a 52 week high of $58.17.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data 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%. Equities research analysts predict 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be given a $0.445 dividend. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 annualized dividend and a yield of 3.93%. First Industrial Realty Trust’s payout ratio is presently 81.65%.

Analyst Ratings Changes

Several research firms recently commented on FR. Robert W. Baird upped their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their target price for the company from $52.00 to $59.00 in a research note on Friday, February 21st. Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective for the company. Finally, Scotiabank lowered their price objective on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.77.

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.