Federated Hermes Inc. Buys 887 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Federated Hermes Inc. raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR – Get Rating) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,830 shares of the real estate investment trust’s stock after acquiring an additional 887 shares during the period. Federated Hermes Inc.’s holdings in First Industrial Realty Trust were worth $1,381,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of First Industrial Realty Trust by 5.3% during the third quarter. Bank of New York Mellon Corp now owns 1,500,182 shares of the real estate investment trust’s stock worth $67,222,000 after purchasing an additional 75,282 shares during the last quarter. Centersquare Investment Management LLC grew its holdings in shares of First Industrial Realty Trust by 24.6% during the third quarter. Centersquare Investment Management LLC now owns 3,647,539 shares of the real estate investment trust’s stock worth $163,446,000 after purchasing an additional 719,682 shares during the last quarter. CI Investments Inc. grew its holdings in shares of First Industrial Realty Trust by 0.5% during the third quarter. CI Investments Inc. now owns 321,117 shares of the real estate investment trust’s stock worth $14,389,000 after purchasing an additional 1,712 shares during the last quarter. Cohen & Steers Inc. grew its holdings in shares of First Industrial Realty Trust by 80.9% during the third quarter. Cohen & Steers Inc. now owns 3,845,886 shares of the real estate investment trust’s stock worth $172,334,000 after purchasing an additional 1,719,882 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in shares of First Industrial Realty Trust by 10.9% during the third quarter. Commonwealth Equity Services LLC now owns 37,358 shares of the real estate investment trust’s stock worth $1,674,000 after purchasing an additional 3,683 shares during the last quarter. 98.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FR has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $65.00 target price on shares of First Industrial Realty Trust in a report on Thursday, February 23rd. Truist Financial upped their price target on First Industrial Realty Trust from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. Finally, JPMorgan Chase & Co. raised First Industrial Realty Trust from a “neutral” rating to an “overweight” rating and upped their price target for the company from $53.00 to $56.00 in a research note on Friday, December 16th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $61.25.

First Industrial Realty Trust Stock Down 3.9 %

Shares of First Industrial Realty Trust stock opened at $50.58 on Monday. First Industrial Realty Trust, Inc. has a 1 year low of $42.91 and a 1 year high of $65.92. The business has a 50-day moving average of $52.28 and a two-hundred day moving average of $49.74. The company has a market capitalization of $6.69 billion, a P/E ratio of 18.66 and a beta of 0.97. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.25 and a quick ratio of 1.25.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be issued a $0.32 dividend. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, March 30th. First Industrial Realty Trust’s dividend payout ratio is 43.54%.

First Industrial Realty Trust Company Profile

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First Industrial Realty Trust, Inc engages in the ownership, management, acquisition, sale, development, and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties. The company was founded by Johannson L.