EdgeRock Capital LLC Acquires New Position in First Industrial Realty Trust, Inc. (NYSE:FR)

EdgeRock Capital LLC bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,069 shares of the real estate investment trust’s stock, valued at approximately $56,000.

A number of other institutional investors also recently made changes to their positions in FR. JPMorgan Chase & Co. grew its position in First Industrial Realty Trust by 5.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,655 shares of the real estate investment trust’s stock worth $143,943,000 after acquiring an additional 158,722 shares during the last quarter. Hsbc Holdings PLC grew its position in First Industrial Realty Trust by 22.0% during the 3rd quarter. Hsbc Holdings PLC now owns 2,240,983 shares of the real estate investment trust’s stock worth $106,847,000 after acquiring an additional 403,887 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of First Industrial Realty Trust by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,042,028 shares of the real estate investment trust’s stock worth $107,554,000 after buying an additional 60,658 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of First Industrial Realty Trust by 2.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,855,763 shares of the real estate investment trust’s stock worth $97,743,000 after buying an additional 40,364 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of First Industrial Realty Trust by 27.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,311,911 shares of the real estate investment trust’s stock worth $69,098,000 after buying an additional 283,634 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Mizuho reiterated a “buy” rating and issued a $58.00 price objective on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. cut their price objective on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Truist Financial lifted their price objective on First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Robert W. Baird cut their price objective on First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada lifted their price target on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $53.40.

First Industrial Realty Trust Stock Down 0.0 %

NYSE:FR traded down $0.02 during trading hours on Wednesday, reaching $47.38. 601,381 shares of the company traded hands, compared to its average volume of 1,157,287. The business’s 50-day moving average price is $50.37 and its two-hundred day moving average price is $50.01. The stock has a market capitalization of $6.27 billion, a P/E ratio of 21.83 and a beta of 1.05. First Industrial Realty Trust, Inc. has a 1 year low of $40.44 and a 1 year high of $55.22. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Friday, June 28th. First Industrial Realty Trust’s payout ratio is 68.20%.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.