MML Investors Services LLC Raises Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

MML Investors Services LLC lifted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,398 shares of the real estate investment trust’s stock after buying an additional 1,875 shares during the quarter. MML Investors Services LLC’s holdings in First Industrial Realty Trust were worth $1,975,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Howard Capital Management Group LLC purchased a new stake in First Industrial Realty Trust in the 3rd quarter valued at $206,000. Barclays PLC raised its position in First Industrial Realty Trust by 34.6% in the 3rd quarter. Barclays PLC now owns 131,111 shares of the real estate investment trust’s stock valued at $7,341,000 after purchasing an additional 33,702 shares during the last quarter. Tidal Investments LLC raised its position in First Industrial Realty Trust by 20.1% in the 3rd quarter. Tidal Investments LLC now owns 82,537 shares of the real estate investment trust’s stock valued at $4,620,000 after purchasing an additional 13,827 shares during the last quarter. Synovus Financial Corp raised its position in First Industrial Realty Trust by 96.3% in the 3rd quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock valued at $1,588,000 after purchasing an additional 13,922 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in First Industrial Realty Trust by 42.9% in the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock valued at $10,546,000 after purchasing an additional 58,088 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

FR has been the subject of a number of analyst reports. Scotiabank cut their price objective on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating for the company in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. The Goldman Sachs Group cut their price objective on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their price objective on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of “Hold” and a consensus target price of $57.58.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $47.75 on Tuesday. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 21.90 and a beta of 1.07. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average is $51.90 and its two-hundred day moving average is $52.43. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. The business had revenue of $177.07 million for the quarter, compared to analysts’ expectations of $176.98 million. Research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio is 88.12%.

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.