Vision Capital Corp Purchases New Position in First Industrial Realty Trust, Inc. $FR

Vision Capital Corp purchased a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 283,919 shares of the real estate investment trust’s stock, valued at approximately $16,260,000. First Industrial Realty Trust makes up approximately 7.2% of Vision Capital Corp’s portfolio, making the stock its 5th biggest position.

A number of other institutional investors also recently modified their holdings of the business. Crossmark Global Holdings Inc. raised its holdings in First Industrial Realty Trust by 1.9% in the third quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock worth $492,000 after buying an additional 179 shares during the last quarter. Assetmark Inc. raised its holdings in shares of First Industrial Realty Trust by 7.1% during the third quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock valued at $154,000 after purchasing an additional 198 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of First Industrial Realty Trust by 2.0% during the third quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 211 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of First Industrial Realty Trust by 0.6% during the third quarter. Intech Investment Management LLC now owns 40,807 shares of the real estate investment trust’s stock valued at $2,100,000 after purchasing an additional 237 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of First Industrial Realty Trust by 9.4% during the fourth quarter. Signaturefd LLC now owns 2,809 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 242 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FR. KeyCorp reissued a “sector weight” rating on shares of First Industrial Realty Trust in a report on Wednesday. Scotiabank boosted their price objective on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a report on Monday, April 27th. Truist Financial boosted their price objective on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Wells Fargo & Company decreased 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 report on Monday, June 1st. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.93.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $63.49 on Friday. The firm has a market capitalization of $8.42 billion, a price-to-earnings ratio of 24.61 and a beta of 1.05. First Industrial Realty Trust, Inc. has a 12-month low of $47.36 and a 12-month high of $64.66. The firm has a 50 day moving average of $61.77 and a 200 day moving average of $59.91. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90.

First Industrial Realty Trust Announces Dividend

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

First Industrial Realty Trust Company 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.