Kennondale Capital Management LLC Purchases New Shares in First Industrial Realty Trust, Inc. (NYSE:FR)

Kennondale Capital Management LLC bought a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 11,963 shares of the real estate investment trust's stock, valued at approximately $600,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FR. Howard Capital Management Group LLC purchased a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at approximately $206,000. Atria Investments Inc raised its position in shares of First Industrial Realty Trust by 10.3% during the 3rd quarter. Atria Investments Inc now owns 8,421 shares of the real estate investment trust's stock valued at $471,000 after acquiring an additional 783 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at approximately $313,000. Metis Global Partners LLC raised its position in shares of First Industrial Realty Trust by 29.7% during the 3rd quarter. Metis Global Partners LLC now owns 13,624 shares of the real estate investment trust's stock valued at $763,000 after acquiring an additional 3,118 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at approximately $217,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FR shares. KeyCorp raised First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price target on the stock. Robert W. Baird upped their price target 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. Finally, The Goldman Sachs Group raised First Industrial Realty Trust from a "sell" rating to a "neutral" rating and upped their price target for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of "Moderate Buy" and an average price target of $58.31.

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First Industrial Realty Trust Stock Performance

Shares of FR traded down $1.51 during trading hours on Friday, reaching $53.47. 1,625,106 shares of the company's stock traded hands, compared to its average volume of 1,021,588. The business's fifty day simple moving average is $54.61 and its two-hundred day simple moving average is $53.82. First Industrial Realty Trust, Inc. has a twelve month low of $45.10 and a twelve month high of $58.17. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 24.53 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 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%. 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 company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 annualized dividend and a yield of 3.33%. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 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.