Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,116 shares of the real estate investment trust’s stock after buying an additional 952 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in First Industrial Realty Trust were worth $1,481,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of FR. SG Americas Securities LLC increased its holdings in shares of First Industrial Realty Trust by 27.7% in the 3rd quarter. SG Americas Securities LLC now owns 20,506 shares of the real estate investment trust’s stock valued at $976,000 after purchasing an additional 4,447 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of First Industrial Realty Trust by 6.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 74,187 shares of the real estate investment trust’s stock valued at $3,531,000 after purchasing an additional 4,362 shares in the last quarter. Raymond James & Associates increased its holdings in shares of First Industrial Realty Trust by 8.0% in the 3rd quarter. Raymond James & Associates now owns 18,098 shares of the real estate investment trust’s stock valued at $861,000 after purchasing an additional 1,344 shares in the last quarter. Bailard Inc. increased its holdings in shares of First Industrial Realty Trust by 34.5% in the 3rd quarter. Bailard Inc. now owns 16,000 shares of the real estate investment trust’s stock valued at $761,000 after purchasing an additional 4,100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in First Industrial Realty Trust by 9.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,536 shares of the real estate investment trust’s stock valued at $3,452,000 after acquiring an additional 6,203 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

FR has been the topic of a number of research reports. The Goldman Sachs Group increased 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 research note on Thursday, January 11th. Truist Financial increased their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. TheStreet raised shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Mizuho reissued a “buy” rating and issued a $58.00 price objective on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $53.78.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock opened at $46.03 on Thursday. First Industrial Realty Trust, Inc. has a 12-month low of $40.44 and a 12-month high of $55.22. The stock has a market capitalization of $6.09 billion, a P/E ratio of 21.21 and a beta of 1.01. The firm’s 50-day moving average is $51.89 and its two-hundred day moving average is $49.89. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.06.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.22%. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, March 27th. First Industrial Realty Trust’s payout ratio is presently 68.20%.

First Industrial Realty Trust 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.