State of Alaska Department of Revenue Purchases 460 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

State of Alaska Department of Revenue lifted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 0.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 235,716 shares of the real estate investment trust’s stock after purchasing an additional 460 shares during the quarter. State of Alaska Department of Revenue owned 0.18% of First Industrial Realty Trust worth $12,384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in First Industrial Realty Trust in the 4th quarter worth about $78,559,000. Frontier Capital Management Co. LLC boosted its holdings 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 purchasing an additional 1,105,286 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of First Industrial Realty Trust by 23.6% in the 4th quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock worth $239,728,000 after purchasing an additional 869,676 shares in the last quarter. Lasalle Investment Management Securities LLC boosted its holdings in First Industrial Realty Trust by 49.7% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,633,051 shares of the real estate investment trust’s stock valued at $86,013,000 after acquiring an additional 541,909 shares during the period. Finally, Crestline Management LP purchased a new stake in First Industrial Realty Trust during the 4th quarter valued at about $26,335,000. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $47.60 on Thursday. First Industrial Realty Trust, Inc. has a one year low of $40.44 and a one year high of $55.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 21.93 and a beta of 1.07. The firm’s fifty day moving average is $47.10 and its two-hundred day moving average is $50.46.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, June 28th. First Industrial Realty Trust’s payout ratio is currently 68.20%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FR. Barclays reiterated an “equal weight” rating and issued a $53.00 price objective (down previously from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Robert W. Baird dropped 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. Mizuho reiterated a “buy” rating and set a $58.00 target price on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. BNP Paribas began coverage on First Industrial Realty Trust in a report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th. Two 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. According to data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $53.42.

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.