Foster & Motley Inc. raised its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR – Get Rating) by 160.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,606 shares of the real estate investment trust's stock after purchasing an additional 21,932 shares during the quarter. Foster & Motley Inc.'s holdings in First Industrial Realty Trust were worth $1,596,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new stake in shares of First Industrial Realty Trust in the second quarter worth about $6,108,000. New York State Teachers Retirement System lifted its holdings in shares of First Industrial Realty Trust by 42.0% in 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 buying an additional 15,400 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of First Industrial Realty Trust by 37.7% in 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 buying an additional 65,619 shares in the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of First Industrial Realty Trust by 592.0% in the second quarter. Pinebridge Investments L.P. now owns 692 shares of the real estate investment trust's stock worth $33,000 after buying an additional 592 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in shares of First Industrial Realty Trust by 5.7% in 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 buying an additional 3,980 shares in the last quarter. 98.00% of the stock is owned by hedge funds and other institutional investors.
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Shares of NYSE FR opened at $52.77 on Tuesday. First Industrial Realty Trust, Inc. has a one year low of $42.91 and a one year high of $65.92. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.06 and a quick ratio of 1.06. The firm's 50 day simple moving average is $49.47 and its two-hundred day simple moving average is $49.29. The stock has a market capitalization of $6.97 billion, a P/E ratio of 17.83 and a beta of 0.96.
First Industrial Realty Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Saturday, December 31st were given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, December 29th. First Industrial Realty Trust's payout ratio is currently 39.86%.Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of First Industrial Realty Trust in a report on Wednesday, October 12th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. upgraded shares of First Industrial Realty Trust from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $53.00 to $56.00 in a research report on Friday, December 16th. Finally, Barclays decreased their price objective on shares of First Industrial Realty Trust from $71.00 to $63.00 and set an "overweight" rating on the stock in a research report on Thursday, October 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $61.14.
First Industrial Realty Trust 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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