Pinebridge Investments L.P. Has $4.63 Million Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Pinebridge Investments L.P. grew its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 18.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,268 shares of the real estate investment trust's stock after buying an additional 14,287 shares during the quarter. Pinebridge Investments L.P. owned approximately 0.07% of First Industrial Realty Trust worth $4,625,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in FR. Howard Capital Management Group LLC acquired a new position in First Industrial Realty Trust during the third quarter valued at $206,000. Barclays PLC increased its holdings in shares of First Industrial Realty Trust by 34.6% in the 3rd quarter. Barclays PLC now owns 131,111 shares of the real estate investment trust's stock valued at $7,341,000 after purchasing an additional 33,702 shares during the period. Tidal Investments LLC lifted its position in shares of First Industrial Realty Trust by 20.1% in the third quarter. Tidal Investments LLC now owns 82,537 shares of the real estate investment trust's stock worth $4,620,000 after purchasing an additional 13,827 shares in the last quarter. Synovus Financial Corp boosted its holdings in shares of First Industrial Realty Trust by 96.3% during the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust's stock worth $1,588,000 after purchasing an additional 13,922 shares during the period. Finally, Franklin Resources Inc. grew its position in First Industrial Realty Trust by 42.9% during the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock valued at $10,546,000 after purchasing an additional 58,088 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FR has been the subject of a number of research analyst reports. Barclays reiterated a "cautious" rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. Robert W. Baird increased their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a "hold" rating and a $52.00 price target for the company. Finally, Royal Bank of Canada lowered their price target on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of "Hold" and a consensus price target of $57.42.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR traded down $0.16 during trading on Tuesday, reaching $47.59. The stock had a trading volume of 778,202 shares, compared to its average volume of 1,120,598. The stock has a fifty day simple moving average of $51.90 and a two-hundred day simple moving average of $52.43. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 21.83 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. The firm had revenue of $177.07 million during the quarter, compared to the consensus estimate of $176.98 million. As a group, analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued a $0.445 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a yield of 3.74%. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.37. First Industrial Realty Trust's dividend payout ratio (DPR) is 88.12%.

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.