Resona Asset Management Co. Ltd. Makes New Investment in First Industrial Realty Trust, Inc. (NYSE:FR)

Resona Asset Management Co. Ltd. acquired a new stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,825 shares of the real estate investment trust's stock, valued at approximately $2,660,000.

A number of other institutional investors have also recently made changes to their positions in FR. Versant Capital Management Inc lifted its stake in shares of First Industrial Realty Trust by 92.5% in the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 481 shares during the period. UMB Bank n.a. raised its holdings in First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 214 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of First Industrial Realty Trust by 200.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 747 shares during the period. Blue Trust Inc. lifted its position in shares of First Industrial Realty Trust by 30.7% in the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 292 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of First Industrial Realty Trust by 73.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust's stock valued at $68,000 after purchasing an additional 575 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FR. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. The Goldman Sachs Group raised First Industrial Realty Trust from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $52.00 to $59.00 in a research note on Friday, February 21st. Scotiabank cut their target price on First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a "hold" rating and a $52.00 target price for the company. Finally, Barclays restated a "cautious" rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $57.77.

First Industrial Realty Trust Stock Up 1.4 %

FR stock traded up $0.66 during midday trading on Tuesday, reaching $47.13. 396,053 shares of the company's stock traded hands, compared to its average volume of 1,108,471. 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 firm's fifty day moving average price is $53.59 and its 200-day moving average price is $52.97. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 21.56 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping 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 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. Stockholders of record on Monday, March 31st will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.37. First Industrial Realty Trust's dividend payout ratio (DPR) 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.