Easterly Investment Partners LLC Invests $680,000 in First Industrial Realty Trust, Inc. $FR

Easterly Investment Partners LLC purchased a new position in First Industrial Realty Trust, Inc. (NYSE:FR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,880 shares of the real estate investment trust’s stock, valued at approximately $680,000.

A number of other large investors also recently modified their holdings of the business. Citadel Advisors LLC increased its stake in First Industrial Realty Trust by 70.8% during the 3rd quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock valued at $128,581,000 after buying an additional 1,035,385 shares during the period. M&T Bank Corp acquired a new position in First Industrial Realty Trust during the 4th quarter valued at about $1,134,000. Hudson Bay Capital Management LP acquired a new position in First Industrial Realty Trust during the 3rd quarter valued at about $20,172,000. Lasalle Investment Management Securities LLC increased its stake in First Industrial Realty Trust by 12.6% during the 3rd quarter. Lasalle Investment Management Securities LLC now owns 733,289 shares of the real estate investment trust’s stock valued at $37,742,000 after buying an additional 81,878 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in First Industrial Realty Trust by 52.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 71,574 shares of the real estate investment trust’s stock valued at $3,684,000 after buying an additional 24,500 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FR has been the topic of several research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $65.00 target price on shares of First Industrial Realty Trust in a research note on Monday, April 27th. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Robert W. Baird lifted their price objective on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Truist Financial lifted their price objective on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Wells Fargo & Company lowered their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.93.

First Industrial Realty Trust Stock Performance

FR stock opened at $59.71 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $7.92 billion, a P/E ratio of 23.14 and a beta of 1.06. The firm has a 50 day simple moving average of $61.05 and a 200 day simple moving average of $59.55. First Industrial Realty Trust, Inc. has a 52 week low of $47.36 and a 52 week high of $64.66.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. First Industrial Realty Trust’s payout ratio is 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.