Norges Bank Buys New Shares in First Industrial Realty Trust, Inc. (NYSE:FR)

Norges Bank bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,805,094 shares of the real estate investment trust's stock, valued at approximately $90,489,000. Norges Bank owned about 1.36% of First Industrial Realty Trust at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Howard Capital Management Group LLC acquired a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $206,000. Cerity Partners LLC bought a new position in First Industrial Realty Trust in the 3rd quarter valued at approximately $496,000. FMR LLC boosted its position in First Industrial Realty Trust by 6.2% in the third quarter. FMR LLC now owns 326,754 shares of the real estate investment trust's stock valued at $18,292,000 after buying an additional 18,958 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of First Industrial Realty Trust by 290.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust's stock worth $50,105,000 after buying an additional 665,920 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of First Industrial Realty Trust by 78.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,691 shares of the real estate investment trust's stock worth $207,000 after buying an additional 1,627 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird raised their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Barclays reissued a "cautious" rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. The Goldman Sachs Group upgraded First Industrial Realty Trust from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $52.00 to $59.00 in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a "hold" rating and a $52.00 price objective for the company. 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $57.77.

First Industrial Realty Trust Trading Down 5.1 %

Shares of NYSE FR traded down $2.42 during midday trading on Monday, reaching $45.26. The stock had a trading volume of 2,664,684 shares, compared to its average volume of 1,094,564. The company's 50 day moving average price is $54.77 and its 200 day moving average price is $53.48. 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, Inc. has a twelve month low of $44.01 and a twelve month high of $58.17. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 20.76 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 (EPS) for the quarter, beating the consensus estimate 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%. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.445 per share. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 annualized dividend and a dividend yield of 3.93%. First Industrial Realty Trust's dividend payout ratio is presently 81.65%.

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.