Shell Asset Management Co. Grows Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Shell Asset Management Co. increased its position in First Industrial Realty Trust, Inc. (NYSE:FRFree Report) by 19.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,412 shares of the real estate investment trust’s stock after acquiring an additional 723 shares during the period. Shell Asset Management Co.’s holdings in First Industrial Realty Trust were worth $210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC lifted its position in First Industrial Realty Trust by 4.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 5,041 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 217 shares in the last quarter. Quadrant Capital Group LLC increased its stake in First Industrial Realty Trust by 12.0% during the second quarter. Quadrant Capital Group LLC now owns 2,171 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 232 shares during the last quarter. GYL Financial Synergies LLC increased its stake in First Industrial Realty Trust by 0.7% during the third quarter. GYL Financial Synergies LLC now owns 35,469 shares of the real estate investment trust’s stock worth $1,688,000 after acquiring an additional 242 shares during the last quarter. M&T Bank Corp grew its stake in shares of First Industrial Realty Trust by 1.5% during the third quarter. M&T Bank Corp now owns 16,886 shares of the real estate investment trust’s stock valued at $804,000 after buying an additional 250 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of First Industrial Realty Trust by 5.7% during the second quarter. Lazard Asset Management LLC now owns 4,960 shares of the real estate investment trust’s stock valued at $261,000 after buying an additional 268 shares during the last quarter. 98.36% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $54.27 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 0.84. First Industrial Realty Trust, Inc. has a twelve month low of $40.44 and a twelve month high of $55.22. The business has a 50-day moving average price of $52.20 and a 200 day moving average price of $49.31. The firm has a market cap of $7.18 billion, a PE ratio of 26.22 and a beta of 1.02.

First Industrial Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.73%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, March 27th. First Industrial Realty Trust’s payout ratio is presently 61.84%.

Analyst Upgrades and Downgrades

FR has been the topic of several research reports. Wells Fargo & Company initiated coverage on First Industrial Realty Trust in a report on Thursday, December 7th. They set an “equal weight” rating on the stock. Truist Financial lowered their price target on First Industrial Realty Trust from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. The Goldman Sachs Group lifted their price target on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Mizuho lifted their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, TheStreet upgraded First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $54.38.

Check Out Our Latest Report on FR

About First Industrial Realty Trust

(Free Report)

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.

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

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