First Industrial Realty Trust, Inc. (NYSE:FR) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 174,800 shares of the real estate investment trust's stock after buying an additional 10,010 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.13% of First Industrial Realty Trust worth $8,763,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Howard Capital Management Group LLC acquired a new stake in First Industrial Realty Trust during the third quarter valued at $206,000. Cerity Partners LLC acquired a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at about $496,000. FMR LLC raised its holdings in First Industrial Realty Trust by 6.2% in the 3rd quarter. FMR LLC now owns 326,754 shares of the real estate investment trust's stock worth $18,292,000 after purchasing an additional 18,958 shares during the period. BNP Paribas Financial Markets boosted its position in First Industrial Realty Trust by 77.9% during the third quarter. BNP Paribas Financial Markets now owns 121,655 shares of the real estate investment trust's stock worth $6,810,000 after purchasing an additional 53,266 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in First Industrial Realty Trust by 2.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,841 shares of the real estate investment trust's stock valued at $4,022,000 after purchasing an additional 1,462 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

Remove Ads

First Industrial Realty Trust Trading Down 4.6 %

Shares of FR stock traded down $2.31 during trading on Friday, hitting $47.72. 2,146,774 shares of the stock traded hands, compared to its average volume of 1,086,625. First Industrial Realty Trust, Inc. has a 52-week low of $45.10 and a 52-week high of $58.17. The firm has a market capitalization of $6.32 billion, a P/E ratio of 21.89 and a beta of 1.07. The firm's fifty day moving average price is $54.93 and its 200-day moving average price is $53.58. 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 results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS 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, research 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 business also recently announced 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 represents a $1.78 annualized dividend and a yield of 3.73%. The ex-dividend date is Monday, March 31st. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.37. First Industrial Realty Trust's dividend payout ratio (DPR) is 81.65%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FR. Barclays reaffirmed a "cautious" rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. Robert W. Baird upped their price objective on shares of 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. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and lifted their target price for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft assumed 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, KeyCorp upgraded First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $58.38.

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.