Pictet Asset Management Holding SA Raises Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Pictet Asset Management Holding SA lifted its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,279 shares of the real estate investment trust’s stock after purchasing an additional 477 shares during the period. Pictet Asset Management Holding SA’s holdings in First Industrial Realty Trust were worth $2,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FR. Howard Capital Management Group LLC bought a new stake in First Industrial Realty Trust during the third quarter valued at about $206,000. Cerity Partners LLC bought a new stake in First Industrial Realty Trust during the 3rd quarter valued at approximately $496,000. FMR LLC lifted its holdings in First Industrial Realty Trust by 6.2% in the 3rd quarter. FMR LLC now owns 326,754 shares of the real estate investment trust’s stock worth $18,292,000 after purchasing an additional 18,958 shares in the last quarter. Centiva Capital LP bought a new position in First Industrial Realty Trust in the 3rd quarter worth approximately $1,038,000. Finally, Holocene Advisors LP grew its holdings in First Industrial Realty Trust by 33.4% during the 3rd quarter. Holocene Advisors LP now owns 57,970 shares of the real estate investment trust’s stock valued at $3,245,000 after buying an additional 14,519 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FR has been the subject of a number of research reports. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. Robert W. Baird upped their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price for the company. Finally, The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. One investment 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, the stock has an average rating of “Hold” and an average target price of $58.38.

First Industrial Realty Trust Trading Down 4.6 %

FR opened at $47.72 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The stock’s 50 day moving average price is $54.93 and its 200-day moving average price is $53.60. First Industrial Realty Trust, Inc. has a one year low of $45.10 and a one year high of $58.17. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 21.89 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating 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, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.73%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust’s payout ratio is 81.65%.

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.