Geode Capital Management LLC Has $124.49 Million Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Geode Capital Management LLC increased its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,482,693 shares of the real estate investment trust's stock after buying an additional 14,298 shares during the quarter. Geode Capital Management LLC owned about 1.88% of First Industrial Realty Trust worth $124,492,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in First Industrial Realty Trust by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust's stock valued at $962,039,000 after acquiring an additional 304,589 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock worth $187,798,000 after purchasing an additional 747,101 shares during the last quarter. Alliancebernstein L.P. increased its stake in 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 purchasing an additional 130,819 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of First Industrial Realty Trust by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust's stock worth $110,581,000 after buying an additional 23,280 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of First Industrial Realty Trust in the 4th quarter valued at about $90,489,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FR. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Robert W. Baird raised their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. KeyCorp raised shares of First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a report on Tuesday, December 17th. 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 on the stock. Finally, Barclays reiterated a "cautious" rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $57.77.

First Industrial Realty Trust Trading Up 1.9 %

NYSE FR traded up $0.85 on Monday, hitting $46.49. 45,208 shares of the company were exchanged, compared to its average volume of 1,105,264. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17. The company's 50 day moving average price is $53.74 and its 200-day moving average price is $53.03. The firm has a market capitalization of $6.15 billion, a P/E ratio of 21.32 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS 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%. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a $0.445 dividend. The ex-dividend date is Monday, March 31st. This is a boost 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 3.83%. First Industrial Realty Trust's payout ratio is 81.65%.

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.