Russell Investments Group Ltd. Acquires 63,445 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Russell Investments Group Ltd. boosted its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 56.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 175,132 shares of the real estate investment trust’s stock after purchasing an additional 63,445 shares during the quarter. Russell Investments Group Ltd.’s holdings in First Industrial Realty Trust were worth $9,224,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FR. JPMorgan Chase & Co. raised its stake in First Industrial Realty Trust by 5.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,655 shares of the real estate investment trust’s stock worth $143,943,000 after buying an additional 158,722 shares during the period. Hsbc Holdings PLC grew its position in First Industrial Realty Trust by 22.0% in the 3rd quarter. Hsbc Holdings PLC now owns 2,240,983 shares of the real estate investment trust’s stock valued at $106,847,000 after purchasing an additional 403,887 shares during the period. Charles Schwab Investment Management Inc. increased its stake in First Industrial Realty Trust by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,981,370 shares of the real estate investment trust’s stock valued at $94,293,000 after purchasing an additional 51,831 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in First Industrial Realty Trust by 27.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,311,911 shares of the real estate investment trust’s stock worth $69,098,000 after buying an additional 283,634 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of First Industrial Realty Trust by 3.3% in the third quarter. Invesco Ltd. now owns 1,143,719 shares of the real estate investment trust’s stock valued at $54,430,000 after buying an additional 36,886 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Down 0.6 %

FR opened at $46.99 on Tuesday. First Industrial Realty Trust, Inc. has a twelve month low of $40.44 and a twelve month high of $55.22. The company’s 50-day moving average price is $50.59 and its two-hundred day moving average price is $49.99. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of 21.65 and a beta of 1.05. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.37 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.48 annualized dividend and a yield of 3.15%. First Industrial Realty Trust’s payout ratio is 68.20%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FR. Royal Bank of Canada upped their target price on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Wedbush downgraded First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $59.00 to $49.00 in a report on Thursday, April 25th. Robert W. Baird dropped their price objective on First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Finally, Barclays restated an “equal weight” rating and set a $53.00 price target (down from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $53.40.

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.