Legal & General Group Plc Boosts Holdings in First Industrial Realty Trust, Inc. $FR

Legal & General Group Plc increased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 818,157 shares of the real estate investment trust’s stock after buying an additional 82,856 shares during the quarter. Legal & General Group Plc owned 0.62% of First Industrial Realty Trust worth $46,856,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC purchased a new position in shares of First Industrial Realty Trust in the third quarter worth approximately $26,000. Danske Bank A S purchased a new position in shares of First Industrial Realty Trust in the third quarter worth approximately $51,000. Fulcrum Asset Management LLP purchased a new position in shares of First Industrial Realty Trust in the third quarter worth approximately $79,000. Fifth Third Bancorp boosted its holdings in shares of First Industrial Realty Trust by 16.0% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 242 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of First Industrial Realty Trust in the third quarter worth approximately $97,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

FR has been the topic of a number of research reports. Citigroup raised their price objective on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $65.00 price target on shares of First Industrial Realty Trust in a report on Monday, April 27th. Weiss Ratings raised shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Scotiabank lifted their price target on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Finally, Truist Financial lifted their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, May 15th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.64.

First Industrial Realty Trust Trading Down 1.1%

First Industrial Realty Trust stock opened at $61.85 on Friday. The stock has a market cap of $8.20 billion, a P/E ratio of 23.97 and a beta of 1.07. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. First Industrial Realty Trust, Inc. has a 1 year low of $47.36 and a 1 year high of $64.66. The firm’s 50 day moving average price is $61.03 and its 200-day moving average price is $59.51.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 77.52%.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.