Louisiana State Employees Retirement System Invests $2.22 Million in First Industrial Realty Trust, Inc. $FR

Louisiana State Employees Retirement System acquired a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 38,400 shares of the real estate investment trust’s stock, valued at approximately $2,221,000.

Other institutional investors have also modified their holdings of the company. Friedenthal Financial acquired a new stake in First Industrial Realty Trust during the 1st quarter worth approximately $980,000. Fifth Third Wealth Advisors LLC lifted its position in First Industrial Realty Trust by 4.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 183 shares in the last quarter. SG Americas Securities LLC grew its stake in First Industrial Realty Trust by 40.4% during the first quarter. SG Americas Securities LLC now owns 257,711 shares of the real estate investment trust’s stock worth $14,909,000 after buying an additional 74,181 shares during the period. Fortem Financial Group LLC grew its stake in First Industrial Realty Trust by 65.9% during the first quarter. Fortem Financial Group LLC now owns 8,205 shares of the real estate investment trust’s stock worth $475,000 after buying an additional 3,258 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of First Industrial Realty Trust by 18.1% in the fourth quarter. Hsbc Holdings PLC now owns 218,448 shares of the real estate investment trust’s stock worth $12,513,000 after acquiring an additional 33,478 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FR shares. Scotiabank raised their target price on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $65.00 target price on shares of First Industrial Realty Trust 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.93.

First Industrial Realty Trust Trading Down 0.5%

NYSE FR opened at $63.26 on Tuesday. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 24.52 and a beta of 1.06. 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 12 month low of $47.36 and a 12 month high of $64.66. The company’s fifty day moving average price is $62.35 and its two-hundred day moving average price is $60.37.

First Industrial Realty Trust Announces Dividend

The business also recently declared 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 of this dividend 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%.

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.