Geode Capital Management LLC Raises Stock Holdings in First Industrial Realty Trust, Inc. $FR

Geode Capital Management LLC grew its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,629,908 shares of the real estate investment trust’s stock after buying an additional 41,042 shares during the quarter. Geode Capital Management LLC owned approximately 1.99% of First Industrial Realty Trust worth $150,644,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on FR shares. Scotiabank increased their target price on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Citigroup increased their target price on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Finally, Truist Financial increased their target price on First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.93.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $61.64 on Friday. The stock has a 50 day moving average of $61.24 and a 200 day moving average of $59.66. First Industrial Realty Trust, Inc. has a 12 month low of $47.36 and a 12 month high of $64.66. The firm has a market cap of $8.17 billion, a PE ratio of 23.89 and a beta of 1.05. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be paid 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 3.2%. First Industrial Realty Trust’s dividend payout ratio is presently 77.52%.

About First Industrial Realty Trust

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.