SG Americas Securities LLC Acquires 74,181 Shares of First Industrial Realty Trust, Inc. $FR

SG Americas Securities LLC lifted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 40.4% in the first quarter, Holdings Channel.com reports. The fund owned 257,711 shares of the real estate investment trust’s stock after purchasing an additional 74,181 shares during the period. SG Americas Securities LLC’s holdings in First Industrial Realty Trust were worth $14,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its position 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 purchasing an additional 9,784,830 shares during the period. Norges Bank purchased a new position in shares of First Industrial Realty Trust during the fourth quarter valued at about $320,075,000. Cohen & Steers Inc. bought a new position in First Industrial Realty Trust in the fourth quarter worth about $118,365,000. Rush Island Management LP purchased a new stake in First Industrial Realty Trust in the second quarter worth about $79,904,000. Finally, AQR Capital Management LLC lifted its holdings in First Industrial Realty Trust by 491.9% in the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after buying an additional 1,541,778 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on FR shares. Robert W. Baird upped their target price on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Raymond James Financial reiterated a “strong-buy” rating on shares of First Industrial Realty Trust in a report on Thursday, June 18th. Finally, Wells Fargo & Company lowered their price objective on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.93.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $63.08 on Friday. The company has a 50 day simple moving average of $62.29 and a two-hundred day simple moving average of $60.29. First Industrial Realty Trust, Inc. has a fifty-two week low of $47.36 and a fifty-two week high of $64.66. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 24.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a 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%.

About First Industrial Realty Trust

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.