Legal & General Group Plc Acquires 82,856 Shares of First Industrial Realty Trust, Inc. $FR

Legal & General Group Plc increased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 11.3% during the 4th quarter, HoldingsChannel reports. The firm owned 818,157 shares of the real estate investment trust’s stock after buying an additional 82,856 shares during the period. Legal & General Group Plc’s holdings in First Industrial Realty Trust were worth $46,856,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its position in First Industrial Realty Trust by 856,065.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after purchasing an additional 9,784,830 shares during the last quarter. Invesco Ltd. increased its position in First Industrial Realty Trust by 8.0% in the third quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock worth $223,571,000 after purchasing an additional 323,248 shares during the last quarter. Citadel Advisors LLC increased its position in First Industrial Realty Trust by 70.8% in the third quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock worth $128,581,000 after purchasing an additional 1,035,385 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in First Industrial Realty Trust by 4.1% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,438,012 shares of the real estate investment trust’s stock worth $125,484,000 after purchasing an additional 95,177 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in First Industrial Realty Trust by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,143,459 shares of the real estate investment trust’s stock worth $122,756,000 after purchasing an additional 8,569 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Down 1.1%

FR stock opened at $61.85 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.90. First Industrial Realty Trust, Inc. has a twelve month low of $47.36 and a twelve month high of $64.66. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 23.97 and a beta of 1.07. The firm’s fifty day simple moving average is $61.03 and its two-hundred day simple moving average is $59.51.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. First Industrial Realty Trust’s payout ratio is 77.52%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FR. Scotiabank boosted their price target on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Citigroup boosted their price target on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Cantor Fitzgerald restated a “neutral” rating and issued a $65.00 price target on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Finally, Truist Financial boosted their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and a consensus target price of $63.64.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.