Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,748 shares of the real estate investment trust’s stock after purchasing an additional 2,212 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of First Industrial Realty Trust worth $3,937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Covestor Ltd raised its position in First Industrial Realty Trust by 14.0% during the 3rd quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 241 shares during the last quarter. International Assets Investment Management LLC purchased a new position in First Industrial Realty Trust during the 4th quarter worth $153,000. Trust Point Inc. purchased a new position in First Industrial Realty Trust during the 4th quarter worth $204,000. DAVENPORT & Co LLC purchased a new position in First Industrial Realty Trust during the 4th quarter worth $209,000. Finally, Shell Asset Management Co. grew its stake in shares of First Industrial Realty Trust by 19.6% during the 3rd quarter. Shell Asset Management Co. now owns 4,412 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 723 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 firms have recently weighed in on FR. JPMorgan Chase & Co. upped their price target on shares of First Industrial Realty Trust from $51.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Royal Bank of Canada upped their price target on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. TheStreet raised shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Mizuho reaffirmed a “buy” rating and set a $58.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Finally, Truist Financial upped their price target on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of “Hold” and an average price target of $55.30.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $45.80 on Tuesday. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 21.11 and a beta of 1.01. First Industrial Realty Trust, Inc. has a 52 week low of $40.44 and a 52 week high of $55.22. The company’s 50-day moving average price is $52.20 and its 200 day moving average price is $49.92. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.23%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, March 27th. First Industrial Realty Trust’s dividend payout ratio is 68.20%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.