Victory Capital Management Inc. Buys 40,734 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Victory Capital Management Inc. raised its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 698,710 shares of the real estate investment trust's stock after purchasing an additional 40,734 shares during the period. Victory Capital Management Inc. owned approximately 0.53% of First Industrial Realty Trust worth $35,026,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in First Industrial Realty Trust by 92.5% during the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 481 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust's stock worth $53,000 after acquiring an additional 417 shares in the last quarter. UMB Bank n.a. grew its stake 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 purchasing an additional 214 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in First Industrial Realty Trust by 200.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust's stock worth $56,000 after buying an additional 747 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings 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 valued at $62,000 after purchasing an additional 292 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities analysts have commented on the stock. Robert W. Baird lifted 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. KeyCorp raised shares of First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a report on Tuesday, December 17th. Barclays reduced their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a "hold" rating and a $52.00 target price on the stock. Finally, The Goldman Sachs Group upgraded First Industrial Realty Trust from a "sell" rating to a "neutral" rating and boosted their price target for the company from $52.00 to $59.00 in a research note on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.31.

First Industrial Realty Trust Price Performance

FR traded down $1.81 on Thursday, hitting $54.28. 900,924 shares of the stock were exchanged, compared to its average volume of 1,151,825. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 24.90 and a beta of 1.07. 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, Inc. has a 12 month low of $45.10 and a 12 month high of $58.17. The business has a 50-day moving average of $53.86 and a two-hundred day moving average of $53.89.

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

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a $0.445 dividend. 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 3.28%. First Industrial Realty Trust's dividend payout ratio (DPR) 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.