Handelsbanken Fonder AB Raises Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Handelsbanken Fonder AB raised its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,774 shares of the real estate investment trust’s stock after acquiring an additional 700 shares during the period. Handelsbanken Fonder AB’s holdings in First Industrial Realty Trust were worth $1,200,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. CWM LLC raised its position in First Industrial Realty Trust by 31.9% during the fourth quarter. CWM LLC now owns 1,613 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 390 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of First Industrial Realty Trust by 3.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,116 shares of the real estate investment trust’s stock valued at $1,481,000 after buying an additional 952 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in First Industrial Realty Trust by 3.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 74,748 shares of the real estate investment trust’s stock worth $3,937,000 after buying an additional 2,212 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its stake in First Industrial Realty Trust by 1.8% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 20,912 shares of the real estate investment trust’s stock worth $1,101,000 after buying an additional 363 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of First Industrial Realty Trust by 2.7% during the fourth quarter. Strs Ohio now owns 305,601 shares of the real estate investment trust’s stock worth $16,096,000 after acquiring an additional 8,131 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $46.00 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.25. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $55.22. The firm has a market cap of $6.09 billion, a P/E ratio of 21.20 and a beta of 1.01. The business’s 50 day moving average price is $51.55 and its 200-day moving average price is $49.90.

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.37 per share. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Wednesday, March 27th. First Industrial Realty Trust’s payout ratio is presently 68.20%.

Wall Street Analyst Weigh In

FR has been the topic of several recent research reports. Wedbush lowered shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $59.00 to $49.00 in a report on Thursday. TheStreet raised First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Truist Financial increased their target price on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. The Goldman Sachs Group lifted their price target on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, January 11th. Finally, Royal Bank of Canada increased their price objective on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.11.

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.