Inspire Investing LLC Acquires 667 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Inspire Investing LLC raised its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 9.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,038 shares of the real estate investment trust’s stock after buying an additional 667 shares during the quarter. Inspire Investing LLC’s holdings in First Industrial Realty Trust were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after purchasing an additional 747,101 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of First Industrial Realty Trust by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock worth $138,214,000 after purchasing an additional 15,093 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of First Industrial Realty Trust by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock valued at $122,182,000 after buying an additional 81,826 shares during the last quarter. Rush Island Management LP bought a new stake in shares of First Industrial Realty Trust in the third quarter valued at about $60,848,000. Finally, The Manufacturers Life Insurance Company grew its position in First Industrial Realty Trust by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 973,441 shares of the real estate investment trust’s stock worth $46,248,000 after buying an additional 8,062 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FR. Barclays reduced their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $57.38.

First Industrial Realty Trust Trading Up 0.5 %

Shares of First Industrial Realty Trust stock opened at $53.32 on Friday. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $57.35. The stock has a market capitalization of $7.06 billion, a P/E ratio of 22.88 and a beta of 1.08. The company has a 50-day simple moving average of $51.55 and a 200 day simple moving average of $53.36. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 63.52%.

About First Industrial Realty Trust

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.