Hsbc Holdings PLC Has $12.51 Million Holdings in First Industrial Realty Trust, Inc. $FR

Hsbc Holdings PLC increased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 18.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 218,448 shares of the real estate investment trust’s stock after buying an additional 33,478 shares during the period. Hsbc Holdings PLC’s holdings in First Industrial Realty Trust were worth $12,513,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in First Industrial Realty Trust by 856,065.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after purchasing an additional 9,784,830 shares during the period. Norges Bank bought a new stake in First Industrial Realty Trust in the 4th quarter valued at $320,075,000. Cohen & Steers Inc. bought a new stake in First Industrial Realty Trust in the 4th quarter valued at $118,365,000. Rush Island Management LP bought a new position in shares of First Industrial Realty Trust during the 2nd quarter worth about $79,904,000. Finally, AQR Capital Management LLC lifted its holdings in shares of First Industrial Realty Trust by 491.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after acquiring an additional 1,541,778 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a report on Monday, April 27th. Truist Financial upped their price objective on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.93.

First Industrial Realty Trust Stock Down 0.5%

Shares of First Industrial Realty Trust stock opened at $63.08 on Friday. The business has a fifty day simple moving average of $62.29 and a 200 day simple moving average of $60.29. The stock has a market cap of $8.36 billion, a PE ratio of 24.45 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 12 month low of $47.36 and a 12 month high of $64.66.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is presently 77.52%.

First Industrial Realty Trust Profile

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.