Eurizon Capital SGR S.p.A. Takes Position in First Industrial Realty Trust, Inc. $FR

Eurizon Capital SGR S.p.A. acquired a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 17,838 shares of the real estate investment trust’s stock, valued at approximately $1,022,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FR. Northwestern Mutual Wealth Management Co. grew its holdings in First Industrial Realty Trust by 856,065.6% during 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 period. Rush Island Management LP bought a new position in First Industrial Realty Trust during the second quarter worth about $79,904,000. AQR Capital Management LLC grew its holdings in First Industrial Realty Trust by 491.9% during the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after purchasing an additional 1,541,778 shares during the period. Duff & Phelps Investment Management Co. bought a new position in First Industrial Realty Trust during the third quarter worth about $74,584,000. Finally, Citadel Advisors LLC grew its holdings in First Industrial Realty Trust by 70.8% during 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 period. Institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

FR has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday. Cantor Fitzgerald reiterated a “neutral” rating and set a $65.00 price target on shares of First Industrial Realty Trust in a report on Monday, April 27th. Citigroup lifted their price target on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Finally, Truist Financial lifted their price target on First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.93.

First Industrial Realty Trust Stock Up 0.7%

Shares of FR opened at $60.44 on Thursday. First Industrial Realty Trust, Inc. has a one year low of $47.36 and a one year high of $64.66. The company has a market cap of $8.01 billion, a P/E ratio of 23.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $61.16 and a two-hundred day simple moving average of $59.61.

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. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is currently 77.52%.

About First Industrial Realty Trust

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.