First Industrial Realty Trust, Inc. $FR Shares Purchased by Harbour Investments Inc.

Harbour Investments Inc. raised its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 159,730.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 20,778 shares of the real estate investment trust’s stock after buying an additional 20,765 shares during the period. Harbour Investments Inc.’s holdings in First Industrial Realty Trust were worth $1,190,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FR. Northwestern Mutual Wealth Management Co. increased its stake in First Industrial Realty Trust by 856,065.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock valued at $560,443,000 after buying an additional 9,784,830 shares during the period. Rush Island Management LP acquired a new position in shares of First Industrial Realty Trust in the 2nd quarter worth approximately $79,904,000. AQR Capital Management LLC grew its stake in shares of First Industrial Realty Trust by 491.9% in the 2nd 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 last quarter. Duff & Phelps Investment Management Co. acquired a new position in shares of First Industrial Realty Trust in the 3rd quarter worth approximately $74,584,000. Finally, Citadel Advisors LLC grew its stake in shares of First Industrial Realty Trust by 70.8% in the 3rd 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. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

FR has been the topic of several recent research reports. Weiss Ratings raised shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Citigroup lifted their price objective on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada lifted their price objective on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Scotiabank lifted their price objective on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Finally, Truist Financial lifted their price objective on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research note 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.64.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $61.85 on Friday. The firm’s 50 day simple moving average is $61.03 and its 200-day simple moving average is $59.51. The company has a market cap of $8.20 billion, a P/E ratio of 23.97 and a beta of 1.07. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. First Industrial Realty Trust, Inc. has a fifty-two week low of $47.36 and a fifty-two week high of $64.66.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 77.52%.

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.