Los Angeles Capital Management LLC Purchases 27,150 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Los Angeles Capital Management LLC raised its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 485.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,745 shares of the real estate investment trust’s stock after acquiring an additional 27,150 shares during the quarter. Los Angeles Capital Management LLC’s holdings in First Industrial Realty Trust were worth $1,642,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FR. Rush Island Management LP bought a new position in shares of First Industrial Realty Trust during the third quarter worth $60,848,000. JPMorgan Chase & Co. lifted its stake in First Industrial Realty Trust by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after purchasing an additional 747,101 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of First Industrial Realty Trust by 290.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock valued at $50,105,000 after purchasing an additional 665,920 shares during the last quarter. Zimmer Partners LP purchased a new position in shares of First Industrial Realty Trust during the third quarter valued at about $18,649,000. Finally, NFJ Investment Group LLC bought a new stake in shares of First Industrial Realty Trust in the third quarter worth about $7,778,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price target for the company from $52.00 to $59.00 in a research note on Friday, February 21st. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Robert W. Baird boosted their price target on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. Finally, Barclays dropped their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and an average price target of $58.31.

First Industrial Realty Trust Price Performance

FR stock opened at $57.07 on Friday. The stock has a market cap of $7.56 billion, a PE ratio of 26.18 and a beta of 1.09. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $57.43. The company has a 50-day moving average price of $52.71 and a 200 day moving average price of $53.74. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

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, 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%. Equities research analysts anticipate 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 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 3.12%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio is 81.65%.

First Industrial Realty Trust 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.