State of Alaska Department of Revenue Acquires 1,207 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

State of Alaska Department of Revenue boosted its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 0.5% in the first quarter, Holdings Channel reports. The institutional investor owned 238,415 shares of the real estate investment trust’s stock after buying an additional 1,207 shares during the period. State of Alaska Department of Revenue’s holdings in First Industrial Realty Trust were worth $12,863,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in First Industrial Realty Trust by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust’s stock worth $962,039,000 after purchasing an additional 304,589 shares during the last quarter. Invesco Ltd. raised its holdings in First Industrial Realty Trust by 80.2% during the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock worth $214,401,000 after purchasing an additional 1,903,164 shares during the last quarter. Geode Capital Management LLC raised its holdings in First Industrial Realty Trust by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust’s stock worth $124,492,000 after purchasing an additional 14,298 shares during the last quarter. Alliancebernstein L.P. raised its holdings in First Industrial Realty Trust by 5.7% during the 4th quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust’s stock worth $121,922,000 after purchasing an additional 130,819 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in First Industrial Realty Trust by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust’s stock worth $110,581,000 after purchasing an additional 23,280 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $49.09 on Thursday. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 24.30 and a beta of 1.08. 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 quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.87. The firm has a 50 day moving average of $48.65 and a 200-day moving average of $51.35.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 39.04% and a return on equity of 9.82%. The business had revenue of $177.07 million during the quarter, compared to analyst estimates of $176.98 million. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current 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 3.63%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust’s payout ratio is currently 88.12%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FR. Robert W. Baird lowered their price target on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Truist Financial lowered their price target on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, May 5th. Royal Bank Of Canada lowered their price target on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company lowered their price target on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. Finally, Scotiabank raised their price objective on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.91.

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.