Pictet Asset Management SA Has $2.51 Million Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Pictet Asset Management SA raised its position in shares of First Industrial Realty Trust, Inc. (NYSE:FRGet Rating) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,823 shares of the real estate investment trust’s stock after buying an additional 2,789 shares during the period. Pictet Asset Management SA’s holdings in First Industrial Realty Trust were worth $2,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of First Industrial Realty Trust by 1.8% during the first quarter. Vanguard Group Inc. now owns 19,203,142 shares of the real estate investment trust’s stock worth $1,188,867,000 after buying an additional 338,812 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of First Industrial Realty Trust by 5.6% during the first quarter. Principal Financial Group Inc. now owns 10,248,833 shares of the real estate investment trust’s stock valued at $634,505,000 after purchasing an additional 543,313 shares during the last quarter. State Street Corp grew its stake in shares of First Industrial Realty Trust by 13.4% during the first quarter. State Street Corp now owns 7,126,381 shares of the real estate investment trust’s stock valued at $443,256,000 after purchasing an additional 844,833 shares during the last quarter. Blackstone Inc. bought a new stake in shares of First Industrial Realty Trust during the first quarter valued at approximately $264,418,000. Finally, Cohen & Steers Inc. grew its stake in shares of First Industrial Realty Trust by 8.3% during the first quarter. Cohen & Steers Inc. now owns 3,509,848 shares of the real estate investment trust’s stock valued at $217,295,000 after purchasing an additional 269,838 shares during the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

Analyst Upgrades and Downgrades

FR has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of First Industrial Realty Trust in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. JPMorgan Chase & Co. reduced their price objective on shares of First Industrial Realty Trust from $60.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Finally, Barclays reduced their price objective on shares of First Industrial Realty Trust from $71.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Hold” and an average price target of $50.69.

First Industrial Realty Trust Trading Up 0.5 %

Shares of NYSE FR opened at $49.33 on Tuesday. The company’s fifty day moving average is $47.02 and its 200-day moving average is $49.52. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 16.67 and a beta of 0.96. First Industrial Realty Trust, Inc. has a twelve month low of $42.91 and a twelve month high of $66.74. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Saturday, December 31st will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.39%. First Industrial Realty Trust’s dividend payout ratio is 39.86%.

First Industrial Realty Trust Profile

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First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

Further Reading

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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