New Age Alpha Advisors LLC Buys Shares of 26,091 First Industrial Realty Trust, Inc. (NYSE:FR)

New Age Alpha Advisors LLC purchased a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 26,091 shares of the real estate investment trust’s stock, valued at approximately $1,308,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Synovus Financial Corp raised its holdings in First Industrial Realty Trust by 96.3% during the 3rd quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock valued at $1,588,000 after acquiring an additional 13,922 shares during the period. Franklin Resources Inc. raised its stake in shares of First Industrial Realty Trust by 42.9% during the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock valued at $10,546,000 after purchasing an additional 58,088 shares during the period. Proficio Capital Partners LLC purchased a new stake in First Industrial Realty Trust during the 4th quarter worth about $1,463,000. JPMorgan Chase & Co. boosted 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 during the period. Finally, Exchange Traded Concepts LLC grew its holdings in First Industrial Realty Trust by 13.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 331 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird increased 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 report on Wednesday, February 19th. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target for the company. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. Finally, Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, First Industrial Realty Trust has a consensus rating of “Hold” and an average target price of $58.38.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $53.60 on Monday. The stock’s 50-day moving average is $54.99 and its 200 day moving average is $53.71. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 24.59 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $58.17. 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 posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, sell-side analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.32%. 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. First Industrial Realty Trust’s dividend payout ratio is presently 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.