Raymond James Financial Inc. Buys New Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Raymond James Financial Inc. purchased 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 filing with the SEC. The firm purchased 128,759 shares of the real estate investment trust's stock, valued at approximately $6,455,000. Raymond James Financial Inc. owned about 0.10% of First Industrial Realty Trust at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Synovus Financial Corp lifted its stake in shares of 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 valued at $1,588,000 after acquiring an additional 13,922 shares during the last quarter. Franklin Resources Inc. raised its holdings in First Industrial Realty Trust by 42.9% during the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock valued at $10,546,000 after buying an additional 58,088 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in First Industrial Realty Trust during the 4th quarter valued at $1,463,000. JPMorgan Chase & Co. increased its position in shares of First Industrial Realty Trust by 28.7% in 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 acquiring an additional 747,101 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of First Industrial Realty Trust by 13.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust's stock valued at $142,000 after acquiring an additional 331 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

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Wall Street Analyst Weigh In

FR has been the topic of a number of research analyst reports. KeyCorp upgraded First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a report on Tuesday, December 17th. The Goldman Sachs Group raised First Industrial Realty Trust from a "sell" rating to a "neutral" rating and boosted their target price for the company from $52.00 to $59.00 in a research note on Friday, February 21st. Robert W. Baird raised their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price objective on the stock. Finally, Barclays increased their target price on First Industrial Realty Trust from $55.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.38.

First Industrial Realty Trust Stock Down 0.2 %

Shares of NYSE:FR traded down $0.13 on Thursday, hitting $54.28. 736,302 shares of the company traded hands, compared to its average volume of 1,147,898. The stock has a 50 day simple moving average of $54.88 and a 200-day simple moving average of $53.76. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The company has a market cap of $7.19 billion, a PE ratio of 24.90 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates 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, research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a $0.445 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.28%. First Industrial Realty Trust's dividend payout ratio is 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.