Great Lakes Advisors LLC Buys 9,379 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Great Lakes Advisors LLC grew its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 23.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,901 shares of the real estate investment trust’s stock after acquiring an additional 9,379 shares during the quarter. Great Lakes Advisors LLC’s holdings in First Industrial Realty Trust were worth $2,451,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FR. Versant Capital Management Inc boosted its holdings in First Industrial Realty Trust by 92.5% in the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 481 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of First Industrial Realty Trust by 24.7% during the fourth 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 lifted its holdings in shares of First Industrial Realty Trust by 200.8% during the fourth 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 in the last quarter. Blue Trust Inc. lifted its holdings in shares of First Industrial Realty Trust by 30.7% during the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 292 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of First Industrial Realty Trust by 73.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 575 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

First Industrial Realty Trust Stock Performance

Shares of FR opened at $55.05 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The business has a 50-day simple moving average of $54.05 and a two-hundred day simple moving average of $53.86. The stock has a market cap of $7.29 billion, a price-to-earnings ratio of 25.25 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $58.17.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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, analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS 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. Stockholders of record on Monday, March 31st will be paid a $0.445 dividend. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.23%. First Industrial Realty Trust’s dividend 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.