Wealthfront Advisers LLC Takes Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Wealthfront Advisers LLC bought a new stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 70,010 shares of the real estate investment trust's stock, valued at approximately $3,510,000. Wealthfront Advisers LLC owned about 0.05% of First Industrial Realty Trust at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in First Industrial Realty Trust by 34.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,655 shares of the real estate investment trust's stock worth $4,845,000 after purchasing an additional 24,814 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in First Industrial Realty Trust in the 4th quarter worth $389,000. Raymond James Financial Inc. acquired a new stake in First Industrial Realty Trust in the 4th quarter worth $6,455,000. Arizona State Retirement System grew its position in First Industrial Realty Trust by 0.8% in the 4th quarter. Arizona State Retirement System now owns 38,409 shares of the real estate investment trust's stock worth $1,925,000 after purchasing an additional 302 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in First Industrial Realty Trust in the 4th quarter worth $1,463,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated 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 price target on the stock. Robert W. Baird lifted 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 research report on Wednesday, February 19th. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and lifted their target price for the company from $52.00 to $59.00 in a research report on Friday, February 21st. 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. Finally, Barclays decreased their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Monday, November 18th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $58.31.

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First Industrial Realty Trust Price Performance

Shares of NYSE FR traded up $0.75 during trading on Friday, reaching $55.05. The company had a trading volume of 1,169,708 shares, compared to its average volume of 1,023,750. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $58.17. The stock has a market cap of $7.29 billion, a PE ratio of 25.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The business's 50 day moving average price is $53.96 and its 200-day moving average price is $53.89.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted 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%. 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 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 dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a yield of 3.23%. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. First Industrial Realty Trust's payout ratio is currently 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.