Vanguard Group Inc. Purchases 304,589 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Vanguard Group Inc. grew its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,190,885 shares of the real estate investment trust’s stock after purchasing an additional 304,589 shares during the quarter. Vanguard Group Inc. owned approximately 14.50% of First Industrial Realty Trust worth $962,039,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FR. Versant Capital Management Inc grew its position in First Industrial Realty Trust by 92.5% during the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 481 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of 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 purchasing an additional 214 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 747 shares during the last quarter. Blue Trust Inc. raised its position in First Industrial Realty Trust by 30.7% in the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 292 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in First Industrial Realty Trust by 73.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 575 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $53.60 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. First Industrial Realty Trust, Inc. has a 1 year low of $45.10 and a 1 year high of $58.17. The company’s 50-day moving average is $54.99 and its 200 day moving average is $53.74. The stock has a market capitalization of $7.10 billion, a P/E ratio of 24.59 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. On average, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Monday, March 31st. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s payout ratio is 81.65%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday. Robert W. Baird lifted their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. 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. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Finally, KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Hold” and a consensus price target of $58.38.

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.