New Age Alpha Advisors LLC Purchases New Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

New Age Alpha Advisors LLC purchased a new position in First Industrial Realty Trust, Inc. (NYSE:FR) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 26,091 shares of the real estate investment trust’s stock, valued at approximately $1,308,000.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of First Industrial Realty Trust during the fourth quarter valued at approximately $90,489,000. Rush Island Management LP purchased a new position in First Industrial Realty Trust during the 3rd quarter valued at $60,848,000. JPMorgan Chase & Co. raised its holdings in First Industrial Realty Trust by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after purchasing an additional 747,101 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of First Industrial Realty Trust by 290.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock worth $50,105,000 after purchasing an additional 665,920 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of First Industrial Realty Trust by 194.5% during the 4th quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust’s stock valued at $41,564,000 after purchasing an additional 523,429 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

FR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target for the company. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price target for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. Finally, KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Hold” and a consensus price target of $58.38.

First Industrial Realty Trust Stock Down 1.2 %

First Industrial Realty Trust stock opened at $53.60 on Monday. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $58.17. The stock has a fifty day simple moving average of $54.99 and a two-hundred day simple moving average of $53.71. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 24.59 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Equities analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a $0.445 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.78 annualized dividend and a yield of 3.32%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 81.65%.

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.