Louisiana State Employees Retirement System Acquires Shares of 37,200 First Industrial Realty Trust, Inc. (NYSE:FR)

Louisiana State Employees Retirement System purchased a new position in First Industrial Realty Trust, Inc. (NYSE:FR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 37,200 shares of the real estate investment trust’s stock, valued at approximately $1,959,000.

A number of other large investors also recently modified their holdings of the business. State of Michigan Retirement System lifted its position in shares of First Industrial Realty Trust by 0.6% in the 4th quarter. State of Michigan Retirement System now owns 31,768 shares of the real estate investment trust’s stock worth $1,673,000 after buying an additional 200 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of First Industrial Realty Trust by 4.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,041 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 217 shares during the last quarter. Covestor Ltd lifted its position in shares of First Industrial Realty Trust by 14.0% in the 3rd quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 241 shares during the last quarter. GYL Financial Synergies LLC increased its holdings in shares of First Industrial Realty Trust by 0.7% in the 3rd 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 period. Finally, M&T Bank Corp increased its holdings in shares of First Industrial Realty Trust by 1.5% in the 3rd quarter. M&T Bank Corp now owns 16,886 shares of the real estate investment trust’s stock worth $804,000 after acquiring an additional 250 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on FR. Truist Financial increased their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Barclays reaffirmed an “equal weight” rating and issued a $53.00 price objective (down previously from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Mizuho reaffirmed a “buy” rating and issued a $58.00 price objective on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. JPMorgan Chase & Co. increased their price objective on shares of First Industrial Realty Trust from $51.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group increased their price objective on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $55.30.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $46.03 on Friday. The firm’s 50 day moving average is $52.69 and its 200-day moving average is $49.91. The stock has a market capitalization of $6.09 billion, a P/E ratio of 22.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 1.06. First Industrial Realty Trust, Inc. has a 12-month low of $40.44 and a 12-month high of $55.22.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.48 annualized dividend and a dividend yield of 3.22%. 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 71.50%.

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.