Prudential Financial Inc. Purchases 523,429 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Prudential Financial Inc. lifted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 194.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 792,593 shares of the real estate investment trust's stock after purchasing an additional 523,429 shares during the period. Prudential Financial Inc. owned 0.60% of First Industrial Realty Trust worth $41,564,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc lifted its holdings in First Industrial Realty Trust by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust's stock worth $205,000 after buying an additional 210 shares during the period. UMB Bank n.a. raised its holdings in shares of First Industrial Realty Trust by 24.7% during the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock valued at $54,000 after acquiring an additional 214 shares in the last quarter. Principal Securities Inc. lifted its stake in First Industrial Realty Trust by 9.3% in the fourth quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust's stock worth $158,000 after acquiring an additional 269 shares during the period. Stifel Financial Corp lifted its stake in First Industrial Realty Trust by 1.1% in the third quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust's stock worth $1,450,000 after acquiring an additional 278 shares during the period. Finally, Fortem Financial Group LLC boosted its holdings in First Industrial Realty Trust by 2.9% in the fourth quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust's stock valued at $517,000 after acquiring an additional 292 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

FR has been the subject of several research reports. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $52.00 to $59.00 in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a "hold" rating and a $52.00 price target for the company. Robert W. Baird lifted their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. KeyCorp raised First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, December 17th. Finally, Barclays restated a "cautious" rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $58.38.

First Industrial Realty Trust Stock Down 1.2 %

Shares of NYSE FR traded down $0.65 during trading on Friday, reaching $53.60. The company had a trading volume of 839,516 shares, compared to its average volume of 1,070,118. The business's 50-day moving average is $54.99 and its 200 day moving average is $53.71. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7.10 billion, a PE ratio of 24.59 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a $0.445 dividend. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust's payout ratio is presently 81.65%.

About First Industrial Realty Trust

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.