Allspring Global Investments Holdings LLC Increases Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Allspring Global Investments Holdings LLC grew its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,931 shares of the real estate investment trust’s stock after purchasing an additional 2,088 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in First Industrial Realty Trust were worth $1,036,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FR. Versant Capital Management Inc raised its position in shares of First Industrial Realty Trust by 92.5% during the 4th quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 481 shares in the last quarter. Blue Trust Inc. raised its position in shares of First Industrial Realty Trust by 201.9% during the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 636 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of First Industrial Realty Trust by 77.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 417 shares in the last quarter. UMB Bank n.a. raised its position in shares of First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 214 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of First Industrial Realty Trust by 188.7% during the 3rd quarter. Covestor Ltd now owns 1,484 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 970 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Down 0.1 %

Shares of FR stock opened at $55.69 on Monday. The business’s 50 day moving average is $52.26 and its two-hundred day moving average is $53.65. First Industrial Realty Trust, Inc. has a twelve month low of $45.10 and a twelve month high of $57.35. The company has a market capitalization of $7.37 billion, a P/E ratio of 25.55 and a beta of 1.09. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

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

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a $0.445 dividend. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 81.65%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FR shares. Robert W. Baird raised their target price on 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. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. Barclays dropped their price target 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. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price target for the stock from $52.00 to $59.00 in a research note on Friday. Finally, KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus 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.