Pacer Advisors Inc. Has $10.31 Million Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Pacer Advisors Inc. increased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 195,795 shares of the real estate investment trust’s stock after buying an additional 9,821 shares during the quarter. Pacer Advisors Inc. owned 0.15% of First Industrial Realty Trust worth $10,313,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FR. Neo Ivy Capital Management acquired a new stake in shares of First Industrial Realty Trust during the second quarter worth $28,000. Quarry LP increased its stake in shares of First Industrial Realty Trust by 1,004.7% in the 2nd quarter. Quarry LP now owns 707 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 643 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of First Industrial Realty Trust in the 1st quarter valued at $46,000. Lazard Asset Management LLC lifted its position in shares of First Industrial Realty Trust by 99.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,396 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 695 shares during the period. Finally, Covestor Ltd boosted its stake in First Industrial Realty Trust by 14.0% during the third quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 241 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Up 1.4 %

FR opened at $52.07 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $6.89 billion, a P/E ratio of 25.15 and a beta of 1.02. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $55.22. The company’s 50-day moving average is $52.92 and its 200 day moving average is $49.72.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a $0.37 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.48 annualized dividend and a yield of 2.84%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s payout ratio is currently 61.84%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Truist Financial increased their price target on First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Mizuho boosted their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Barclays reaffirmed an “equal weight” rating and set a $53.00 target price (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of First Industrial Realty Trust from $51.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.30.

About First Industrial Realty Trust

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.