Los Angeles Capital Management LLC Buys 27,150 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Los Angeles Capital Management LLC grew its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 485.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,745 shares of the real estate investment trust’s stock after acquiring an additional 27,150 shares during the period. Los Angeles Capital Management LLC’s holdings in First Industrial Realty Trust were worth $1,642,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Synovus Financial Corp lifted its stake in First Industrial Realty Trust by 96.3% in the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock worth $1,588,000 after acquiring an additional 13,922 shares during the period. Franklin Resources Inc. lifted its position in shares of First Industrial Realty Trust by 42.9% in the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock worth $10,546,000 after purchasing an additional 58,088 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of First Industrial Realty Trust by 2,886.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,843 shares of the real estate investment trust’s stock worth $1,055,000 after purchasing an additional 18,212 shares during the period. Commerce Bank bought a new position in shares of First Industrial Realty Trust during the third quarter valued at approximately $4,817,000. Finally, JPMorgan Chase & Co. increased its holdings in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after buying an additional 747,101 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Up 0.2 %

Shares of First Industrial Realty Trust stock opened at $57.07 on Friday. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $57.43. The firm’s 50 day simple moving average is $52.71 and its two-hundred day simple moving average is $53.74. 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 capitalization of $7.56 billion, a price-to-earnings ratio of 26.18 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The company 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 dividend of $0.445 per share. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.12%. First Industrial Realty Trust’s payout ratio is 81.65%.

Analyst Ratings Changes

A number of analysts have weighed in on FR shares. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price for the company. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price objective for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Barclays cut their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Finally, Robert W. Baird lifted their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.31.

First Industrial Realty Trust Company 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.