Franklin Resources Inc. Grows Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Franklin Resources Inc. raised its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 36.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,503 shares of the real estate investment trust's stock after purchasing an additional 70,971 shares during the period. Franklin Resources Inc. owned 0.20% of First Industrial Realty Trust worth $13,260,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FR. Alliancebernstein L.P. increased its position in shares of First Industrial Realty Trust by 5.7% during the fourth quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust's stock valued at $121,922,000 after buying an additional 130,819 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of First Industrial Realty Trust by 18.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 17,531 shares of the real estate investment trust's stock worth $879,000 after acquiring an additional 2,771 shares in the last quarter. Allstate Corp lifted its stake in shares of First Industrial Realty Trust by 52.0% in the 4th quarter. Allstate Corp now owns 86,197 shares of the real estate investment trust's stock valued at $4,321,000 after purchasing an additional 29,491 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of First Industrial Realty Trust by 83.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 8,028 shares of the real estate investment trust's stock valued at $402,000 after purchasing an additional 3,644 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in First Industrial Realty Trust by 1.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 41,279 shares of the real estate investment trust's stock worth $2,069,000 after purchasing an additional 477 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

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First Industrial Realty Trust Stock Performance

Shares of FR stock traded up $0.89 during trading hours on Friday, reaching $45.61. The company had a trading volume of 1,763,108 shares, compared to its average volume of 1,109,284. The firm has a market cap of $6.04 billion, a PE ratio of 20.92 and a beta of 1.07. The business has a fifty day moving average price of $53.74 and a 200-day moving average price of $53.05. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a dividend of $0.445 per share. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust's payout ratio is currently 81.65%.

Analyst Ratings Changes

A number of brokerages have recently commented on FR. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. KeyCorp raised shares of First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, December 17th. Scotiabank decreased their target price on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating for the company in a research note on Monday, April 7th. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and lifted their target price for the company from $52.00 to $59.00 in a report on Friday, February 21st. Finally, Barclays restated a "cautious" rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $57.77.

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.