5,588,883 Shares in First Industrial Realty Trust, Inc. $FR Bought by Norges Bank

Norges Bank bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,588,883 shares of the real estate investment trust’s stock, valued at approximately $320,075,000. Norges Bank owned 4.22% of First Industrial Realty Trust at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FR. Citadel Advisors LLC boosted its stake in shares of First Industrial Realty Trust by 70.8% during 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 buying an additional 1,035,385 shares during the last quarter. M&T Bank Corp acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth about $1,134,000. Hudson Bay Capital Management LP acquired a new position in shares of First Industrial Realty Trust during the 3rd quarter worth about $20,172,000. Lasalle Investment Management Securities LLC boosted its stake in shares of First Industrial Realty Trust by 12.6% during the 3rd quarter. Lasalle Investment Management Securities LLC now owns 733,289 shares of the real estate investment trust’s stock worth $37,742,000 after buying an additional 81,878 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of First Industrial Realty Trust by 52.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 71,574 shares of the real estate investment trust’s stock worth $3,684,000 after buying an additional 24,500 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FR has been the subject of a number of recent research reports. Cantor Fitzgerald restated a “neutral” rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, April 27th. Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Royal Bank Of Canada increased 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 increased 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, Wells Fargo & Company reduced their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and an average price target of $63.93.

First Industrial Realty Trust Stock Down 3.5%

First Industrial Realty Trust stock opened at $59.71 on Tuesday. The stock has a market cap of $7.92 billion, a P/E ratio of 23.14 and a beta of 1.06. 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 company’s 50-day moving average price is $61.05 and its two-hundred day moving average price is $59.55.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio is currently 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.