United Services Automobile Association Grows Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

United Services Automobile Association grew its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR – Get Rating) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,589 shares of the real estate investment trust’s stock after acquiring an additional 651 shares during the quarter. United Services Automobile Association’s holdings in First Industrial Realty Trust were worth $654,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FR. Raymond James & Associates increased its holdings in First Industrial Realty Trust by 74.1% in the 1st quarter. Raymond James & Associates now owns 8,818 shares of the real estate investment trust’s stock worth $546,000 after buying an additional 3,753 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of First Industrial Realty Trust during the 1st quarter valued at about $232,000. American Century Companies Inc. bought a new stake in shares of First Industrial Realty Trust during the 1st quarter valued at about $263,000. Natixis Advisors L.P. lifted its position in shares of First Industrial Realty Trust by 22.6% during the 1st quarter. Natixis Advisors L.P. now owns 16,759 shares of the real estate investment trust’s stock valued at $1,038,000 after buying an additional 3,086 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of First Industrial Realty Trust by 4.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 176,557 shares of the real estate investment trust’s stock valued at $11,298,000 after buying an additional 7,724 shares in the last quarter. 98.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FR shares. Truist Financial lifted their price objective on First Industrial Realty Trust from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. JPMorgan Chase & Co. raised First Industrial Realty Trust from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $53.00 to $56.00 in a report on Friday, December 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 price target on shares of First Industrial Realty Trust in a report on Thursday, February 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.25.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $52.28 on Wednesday. The company has a market cap of $6.91 billion, a P/E ratio of 19.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.25 and a current ratio of 1.25. The business’s 50 day moving average price is $52.42 and its 200-day moving average price is $49.73. First Industrial Realty Trust, Inc. has a fifty-two week low of $42.91 and a fifty-two week high of $65.92.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, March 30th. This represents a $1.28 annualized dividend and a dividend yield of 2.45%. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.30. First Industrial Realty Trust’s payout ratio is currently 43.54%.

First Industrial Realty Trust Profile

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First Industrial Realty Trust, Inc engages in the ownership, management, acquisition, sale, development, and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties. The company was founded by Johannson L.