Sumitomo Mitsui Trust Holdings Inc. Grows Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 27.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,311,911 shares of the real estate investment trust’s stock after buying an additional 283,634 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.99% of First Industrial Realty Trust worth $69,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FR. Vanguard Group Inc. lifted its stake in First Industrial Realty Trust by 1.8% during the first quarter. Vanguard Group Inc. now owns 19,203,142 shares of the real estate investment trust’s stock worth $1,188,867,000 after purchasing an additional 338,812 shares during the last quarter. State Street Corp lifted its stake in First Industrial Realty Trust by 1.1% during the first quarter. State Street Corp now owns 7,315,813 shares of the real estate investment trust’s stock worth $391,494,000 after purchasing an additional 79,479 shares during the last quarter. Nomura Holdings Inc. lifted its stake in First Industrial Realty Trust by 192.7% during the first quarter. Nomura Holdings Inc. now owns 3,088,269 shares of the real estate investment trust’s stock worth $164,296,000 after purchasing an additional 2,033,000 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in First Industrial Realty Trust by 5.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,655 shares of the real estate investment trust’s stock worth $143,943,000 after purchasing an additional 158,722 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in First Industrial Realty Trust by 22.0% during the third quarter. Hsbc Holdings PLC now owns 2,240,983 shares of the real estate investment trust’s stock worth $106,847,000 after purchasing an additional 403,887 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $48.60 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $6.43 billion, a P/E ratio of 23.48 and a beta of 1.01. The firm has a 50 day simple moving average of $52.73 and a 200 day simple moving average of $49.91. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $55.22.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 71.50%.

Analyst Ratings Changes

Several equities analysts recently issued reports on FR shares. Truist Financial raised their price objective on First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Royal Bank of Canada raised their price objective on First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. increased their target price on First Industrial Realty Trust from $51.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Mizuho reaffirmed a “buy” rating and issued a $58.00 target price on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. Finally, TheStreet raised First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.30.

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.