Landscape Capital Management L.L.C. bought a new stake in First Industrial Realty Trust, Inc. (NYSE:FR – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,517 shares of the real estate investment trust's stock, valued at approximately $919,000.
A number of other hedge funds have also recently added to or reduced their stakes in FR. Cubist Systematic Strategies LLC acquired a new position in shares of First Industrial Realty Trust during the second quarter worth $6,108,000. New York State Teachers Retirement System lifted its holdings in shares of First Industrial Realty Trust by 42.0% during the third quarter. New York State Teachers Retirement System now owns 52,035 shares of the real estate investment trust's stock worth $2,332,000 after purchasing an additional 15,400 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of First Industrial Realty Trust by 37.7% during the third quarter. State of Alaska Department of Revenue now owns 239,665 shares of the real estate investment trust's stock worth $10,737,000 after purchasing an additional 65,619 shares during the period. Pinebridge Investments L.P. lifted its holdings in shares of First Industrial Realty Trust by 592.0% during the second quarter. Pinebridge Investments L.P. now owns 692 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 592 shares during the period. Finally, Yousif Capital Management LLC lifted its holdings in shares of First Industrial Realty Trust by 5.7% during the second quarter. Yousif Capital Management LLC now owns 73,869 shares of the real estate investment trust's stock worth $3,507,000 after purchasing an additional 3,980 shares during the period. Institutional investors and hedge funds own 98.00% of the company's stock.
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First Industrial Realty Trust Price Performance
FR stock opened at $51.36 on Thursday. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 17.35 and a beta of 0.96. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 12-month low of $42.91 and a 12-month high of $65.92. The company's fifty day simple moving average is $49.33 and its 200 day simple moving average is $49.21.
First Industrial Realty Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Saturday, December 31st were issued a $0.295 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $1.18 annualized dividend and a yield of 2.30%. First Industrial Realty Trust's payout ratio is 39.86%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on FR. Barclays cut their price target on shares of First Industrial Realty Trust from $71.00 to $63.00 and set an "overweight" rating on the stock in a report on Thursday, October 13th. JPMorgan Chase & Co. upgraded shares of First Industrial Realty Trust from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $53.00 to $56.00 in a report on Friday, December 16th. Finally, StockNews.com began coverage on shares of First Industrial Realty Trust in a report on Wednesday, October 12th. They set a "hold" rating on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $61.14.
First Industrial Realty Trust Company Profile
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First Industrial Realty Trust, Inc operates as a real estate investment trust. It 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.
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