Los Angeles Capital Management LLC purchased a new stake in First Industrial Realty Trust, Inc. (NYSE:FR – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,787 shares of the real estate investment trust's stock, valued at approximately $349,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Better Money Decisions LLC acquired a new position in shares of First Industrial Realty Trust during the second quarter worth approximately $25,000. Neo Ivy Capital Management acquired a new position in shares of First Industrial Realty Trust during the second quarter worth approximately $28,000. Pinebridge Investments L.P. lifted its position 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 in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of First Industrial Realty Trust during the first quarter worth approximately $46,000. Finally, Wipfli Financial Advisors LLC acquired a new position in shares of First Industrial Realty Trust during the third quarter worth approximately $44,000. 98.00% of the stock is currently owned by institutional investors and hedge funds.
Get First Industrial Realty Trust alerts:First Industrial Realty Trust Stock Up 1.0 %
Shares of NYSE:FR opened at $52.76 on Friday. First Industrial Realty Trust, Inc. has a 52 week low of $42.91 and a 52 week high of $65.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $6.97 billion, a PE ratio of 17.82 and a beta of 0.96. The company has a 50 day moving average price of $49.72 and a two-hundred day moving average price of $49.37.
First Industrial Realty Trust Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Saturday, December 31st were paid a $0.295 dividend. This represents a $1.18 annualized dividend 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 presently 39.86%.Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of First Industrial Realty Trust from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $53.00 to $56.00 in a report on Friday, December 16th. Barclays cut 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 report on Thursday, October 13th. Finally, 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently 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.
Further Reading
- Get a free copy of the StockNews.com research report on First Industrial Realty Trust (FR)
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