OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 49,279 First Industrial Realty Trust, Inc. (NYSE:FR)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 49,279 shares of the real estate investment trust's stock, valued at approximately $2,470,000.

A number of other large investors have also made changes to their positions in FR. CIBC Asset Management Inc raised its position in shares of First Industrial Realty Trust by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust's stock valued at $205,000 after purchasing an additional 210 shares during the last quarter. UMB Bank n.a. boosted its position in First Industrial Realty Trust by 24.7% in the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 214 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of First Industrial Realty Trust by 9.3% in the 4th quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust's stock valued at $158,000 after acquiring an additional 269 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of First Industrial Realty Trust by 1.1% during the third quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust's stock worth $1,450,000 after purchasing an additional 278 shares during the last quarter. Finally, Fortem Financial Group LLC boosted its stake in shares of First Industrial Realty Trust by 2.9% in the fourth quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust's stock worth $517,000 after buying an additional 292 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several analysts recently commented on FR shares. KeyCorp upgraded shares of 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 shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a "hold" rating and a $52.00 target price on the stock. Robert W. Baird lifted their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group raised shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $58.31.

First Industrial Realty Trust Trading Up 1.5 %

FR stock traded up $0.80 during midday trading on Monday, hitting $54.31. 978,201 shares of the company's stock were exchanged, compared to its average volume of 1,022,190. 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 current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $7.19 billion, a PE ratio of 24.91 and a beta of 1.07. The business has a 50-day simple moving average of $54.61 and a two-hundred day simple moving average of $53.78.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) 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%. On average, sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently disclosed 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 dividend yield of 3.28%. 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 payout ratio is currently 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.