Hsbc Holdings PLC Buys 33,478 Shares of First Industrial Realty Trust, Inc. $FR

Hsbc Holdings PLC raised its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 18.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 218,448 shares of the real estate investment trust’s stock after purchasing an additional 33,478 shares during the period. Hsbc Holdings PLC owned 0.16% of First Industrial Realty Trust worth $12,513,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of First Industrial Realty Trust by 856,065.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after buying an additional 9,784,830 shares during the period. Norges Bank bought a new position in First Industrial Realty Trust in the 4th quarter worth $320,075,000. Cohen & Steers Inc. acquired a new position in First Industrial Realty Trust during the 4th quarter worth $118,365,000. Rush Island Management LP bought a new stake in First Industrial Realty Trust during the second quarter valued at about $79,904,000. Finally, AQR Capital Management LLC grew its position in shares of First Industrial Realty Trust by 491.9% in the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock valued at $89,291,000 after purchasing an additional 1,541,778 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $63.08 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 24.45 and a beta of 1.05. The company’s fifty day moving average is $62.29 and its two-hundred day moving average is $60.29. 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 77.52%.

Analysts Set New Price Targets

FR has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on 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, June 1st. Truist Financial increased their target price on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Robert W. Baird raised their target price on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $63.93.

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.