FORA Capital LLC Buys Shares of 16,446 First Industrial Realty Trust, Inc. (NYSE:FR)

FORA Capital LLC purchased a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the fourth quarter, Holdings Channel.com reports. The firm purchased 16,446 shares of the real estate investment trust’s stock, valued at approximately $824,000.

Several other hedge funds have also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of First Industrial Realty Trust by 34.6% during the 3rd quarter. Barclays PLC now owns 131,111 shares of the real estate investment trust’s stock valued at $7,341,000 after buying an additional 33,702 shares during the period. Franklin Resources Inc. lifted its holdings in First Industrial Realty Trust by 42.9% in the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock valued at $10,546,000 after acquiring an additional 58,088 shares during the period. Park Avenue Securities LLC boosted its position in First Industrial Realty Trust by 14.8% in the fourth quarter. Park Avenue Securities LLC now owns 10,124 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 1,304 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of First Industrial Realty Trust by 6.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,241 shares of the real estate investment trust’s stock valued at $513,000 after purchasing an additional 665 shares during the period. Finally, Boston Common Asset Management LLC increased its position in shares of First Industrial Realty Trust by 28.7% during the 4th quarter. Boston Common Asset Management LLC now owns 84,028 shares of the real estate investment trust’s stock valued at $4,212,000 after purchasing an additional 18,749 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FR. Scotiabank cut their target price on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. cut their price objective on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Barclays decreased their target price on First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Royal Bank of Canada reduced their price target on First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.50.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $49.54 on Friday. The firm’s fifty day moving average is $50.47 and its two-hundred day moving average is $52.07. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The company has a market cap of $6.56 billion, a P/E ratio of 22.72 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The firm had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. As a group, analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, June 30th. First Industrial Realty Trust’s dividend payout ratio is presently 88.12%.

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.