KLP Kapitalforvaltning AS Invests $1.37 Million in First Industrial Realty Trust, Inc. (NYSE:FR)

KLP Kapitalforvaltning AS bought a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 27,100 shares of the real estate investment trust's stock, valued at approximately $1,367,000.

Several other large investors have also recently made changes to their positions in FR. Synovus Financial Corp boosted its stake in First Industrial Realty Trust by 96.3% in the 3rd 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 in the last quarter. Franklin Resources Inc. lifted its stake 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 buying an additional 58,088 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of First Industrial Realty Trust during the fourth quarter valued at approximately $1,463,000. JPMorgan Chase & Co. grew its holdings in shares of 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 valued at $187,798,000 after buying an additional 747,101 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in First Industrial Realty Trust by 13.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust's stock worth $142,000 after acquiring an additional 331 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock traded down $4.06 on Thursday, hitting $49.99. 2,622,802 shares of the company's stock were exchanged, compared to its average volume of 1,080,154. First Industrial Realty Trust, Inc. has a 1 year low of $45.10 and a 1 year high of $58.17. The company has a 50-day simple moving average of $55.05 and a 200-day simple moving average of $53.66. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a market capitalization of $6.62 billion, a PE ratio of 22.93 and a beta of 1.07.

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, 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%. As a group, equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS 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. Shareholders of record on Monday, March 31st will be paid a dividend of $0.445 per share. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a yield of 3.56%. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 81.65%.

Analysts Set New Price Targets

Several brokerages have commented on FR. The Goldman Sachs Group upgraded First Industrial Realty Trust from a "sell" rating to a "neutral" rating and increased their target price for the company from $52.00 to $59.00 in a research note on Friday, February 21st. Barclays reiterated a "cautious" rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. Robert W. Baird boosted their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price target on the stock. Finally, KeyCorp raised shares of First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a report on Tuesday, December 17th. One equities research 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. According to data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of "Hold" and a consensus target price of $58.38.

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.