Sunbelt Securities Inc. Takes $89,000 Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Sunbelt Securities Inc. purchased a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,693 shares of the real estate investment trust’s stock, valued at approximately $89,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Trust Company N.A bought a new position in shares of First Industrial Realty Trust in the 4th quarter worth approximately $237,000. Campbell & CO Investment Adviser LLC raised its holdings in First Industrial Realty Trust by 66.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 41,720 shares of the real estate investment trust’s stock worth $2,197,000 after purchasing an additional 16,652 shares in the last quarter. Cibc World Markets Corp purchased a new position in First Industrial Realty Trust during the fourth quarter valued at $11,808,000. Deutsche Bank AG boosted its holdings in shares of First Industrial Realty Trust by 16.6% during the 3rd quarter. Deutsche Bank AG now owns 223,882 shares of the real estate investment trust’s stock valued at $10,655,000 after buying an additional 31,887 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its position in shares of First Industrial Realty Trust by 788.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after buying an additional 1,105,286 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FR. BNP Paribas began coverage on shares of First Industrial Realty Trust in a research report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price target for the company. Mizuho reiterated a “buy” rating and set a $58.00 target price on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Robert W. Baird cut their price target on First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Finally, Wedbush cut First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $59.00 to $49.00 in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Hold” and a consensus price target of $53.42.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $47.51 on Friday. The firm’s 50-day moving average price is $47.02 and its 200-day moving average price is $50.58. First Industrial Realty Trust, Inc. has a 52-week low of $40.44 and a 52-week high of $55.22. The company has a market cap of $6.29 billion, a PE ratio of 21.89 and a beta of 1.07. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.37 dividend. 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 dividend payout ratio (DPR) is presently 68.20%.

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.