HRT Financial LP acquired a new stake in First Industrial Realty Trust, Inc. (NYSE:FR – Get Rating) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,681 shares of the real estate investment trust’s stock, valued at approximately $611,000.
Several other hedge funds also recently modified their holdings of FR. Neo Ivy Capital Management bought a new stake in First Industrial Realty Trust during the 2nd quarter valued at $28,000. Itau Unibanco Holding SA bought a new stake in First Industrial Realty Trust during the 4th quarter valued at $41,000. Brown Brothers Harriman & Co. bought a new stake in First Industrial Realty Trust during the 1st quarter valued at $46,000. CWM LLC increased its stake in First Industrial Realty Trust by 147.7% during the 4th quarter. CWM LLC now owns 1,003 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 598 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in First Industrial Realty Trust by 46.6% during the 3rd quarter. Bessemer Group Inc. now owns 1,129 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 359 shares in the last quarter. Institutional investors own 98.00% of the company’s stock.
First Industrial Realty Trust Price Performance
FR opened at $53.48 on Friday. The firm’s fifty day moving average price is $52.19 and its two-hundred day moving average price is $51.45. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $7.07 billion, a price-to-earnings ratio of 18.70 and a beta of 0.98. First Industrial Realty Trust, Inc. has a 1 year low of $42.91 and a 1 year high of $55.88.
First Industrial Realty Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, June 29th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 44.76%.
Analysts Set New Price Targets
A number of analysts have commented on FR shares. Royal Bank of Canada restated an “outperform” rating and set a $65.00 price target on shares of First Industrial Realty Trust in a research note on Thursday, February 23rd. Truist Financial boosted their price target on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. StockNews.com started coverage on shares of First Industrial Realty Trust in a report on Thursday, May 18th. They set a “hold” rating on the stock. Robert W. Baird lifted their price objective on shares of First Industrial Realty Trust from $60.00 to $63.00 in a report on Monday, April 24th. Finally, The Goldman Sachs Group started coverage on shares of First Industrial Realty Trust in a report on Tuesday, March 21st. They set a “sell” rating and a $48.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and a consensus price target of $58.57.
Insider Buying and Selling
In related news, CFO Scott A. Musil sold 7,600 shares of the business’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $52.28, for a total value of $397,328.00. Following the transaction, the chief financial officer now directly owns 81,078 shares of the company’s stock, valued at approximately $4,238,757.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by insiders.
First Industrial Realty Trust Company Profile
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First Industrial Realty Trust, Inc is involved in the ownership, management, acquisition, sale, development, and redevelopment of industrial real estate. The firm’s product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties. The company was founded by Johannson L.
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