Great Lakes Advisors LLC Raises Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Great Lakes Advisors LLC lifted its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 23.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,901 shares of the real estate investment trust's stock after purchasing an additional 9,379 shares during the quarter. Great Lakes Advisors LLC's holdings in First Industrial Realty Trust were worth $2,451,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Synovus Financial Corp raised its stake in shares of First Industrial Realty Trust by 96.3% in the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust's stock worth $1,588,000 after buying an additional 13,922 shares during the period. Franklin Resources Inc. boosted its position in shares of First Industrial Realty Trust by 42.9% in the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock worth $10,546,000 after purchasing an additional 58,088 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of First Industrial Realty Trust in the fourth quarter worth $1,463,000. Commerce Bank bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at $4,817,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock valued at $187,798,000 after buying an additional 747,101 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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First Industrial Realty Trust Trading Up 1.1 %

NYSE FR traded up $0.61 during trading on Monday, hitting $55.69. The stock had a trading volume of 336,857 shares, compared to its average volume of 1,019,174. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 25.54 and a beta of 1.07. The stock has a 50 day simple moving average of $54.05 and a 200 day simple moving average of $53.84. First Industrial Realty Trust, Inc. has a one year low of $45.10 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 earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates 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 year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a $0.445 dividend. The ex-dividend date of this dividend is Monday, March 31st. 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 3.20%. First Industrial Realty Trust's dividend payout ratio is 81.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FR shares. The Goldman Sachs Group raised First Industrial Realty Trust from a "sell" rating to a "neutral" rating and raised their price target for the company from $52.00 to $59.00 in a report on Friday, February 21st. Robert W. Baird upped their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price objective on the stock. 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. Finally, Barclays decreased their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, First Industrial Realty Trust presently has an average rating of "Moderate Buy" and an average target price of $58.31.

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.