Norges Bank Purchases Shares of 5,588,883 First Industrial Realty Trust, Inc. $FR

Norges Bank purchased a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,588,883 shares of the real estate investment trust’s stock, valued at approximately $320,075,000.

Several other hedge funds also recently made changes to their positions in FR. Northwestern Mutual Wealth Management Co. increased its holdings in shares of First Industrial Realty Trust by 856,065.6% during 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. Rush Island Management LP bought a new position in shares of First Industrial Realty Trust during the second quarter worth approximately $79,904,000. AQR Capital Management LLC increased its holdings in shares of First Industrial Realty Trust by 491.9% during the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after purchasing an additional 1,541,778 shares during the period. Duff & Phelps Investment Management Co. bought a new position in shares of First Industrial Realty Trust during the third quarter worth approximately $74,584,000. Finally, Citadel Advisors LLC increased its holdings in shares of First Industrial Realty Trust by 70.8% during the third quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock worth $128,581,000 after purchasing an additional 1,035,385 shares during the period. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $59.71 on Tuesday. First Industrial Realty Trust, Inc. has a fifty-two week low of $47.36 and a fifty-two week high of $64.66. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $7.92 billion, a P/E ratio of 23.14 and a beta of 1.06. The company’s 50 day moving average price is $61.05 and its two-hundred day moving average price is $59.55.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 77.52%.

Wall Street Analysts Forecast Growth

FR has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $65.00 target price on shares of First Industrial Realty Trust in a report on Monday, April 27th. Weiss Ratings raised shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. 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 report on Monday. Robert W. Baird raised their target price on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Finally, Citigroup raised their target price on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.93.

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.