Wealthfront Advisers LLC Makes New Investment 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 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other institutional investors and hedge funds also recently made changes to their positions in FR. Rush Island Management LP acquired a new stake in First Industrial Realty Trust during the third quarter worth approximately $60,848,000. JPMorgan Chase & Co. grew its position in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock worth $187,798,000 after buying an additional 747,101 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in First Industrial Realty Trust by 290.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust's stock worth $50,105,000 after buying an additional 665,920 shares in the last quarter. Zimmer Partners LP acquired a new stake in First Industrial Realty Trust during the third quarter worth approximately $18,649,000. Finally, NFJ Investment Group LLC acquired a new stake in First Industrial Realty Trust during the third quarter worth approximately $7,778,000. Institutional investors and hedge funds own 99.85% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FR shares. KeyCorp raised First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, December 17th. Robert W. Baird increased their price target on 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. The Goldman Sachs Group raised First Industrial Realty Trust from a "sell" rating to a "neutral" rating and increased their price target for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. 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 for the company. Finally, Barclays cut their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating for the company in a research note on Monday, November 18th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $58.31.

First Industrial Realty Trust Price Performance

Shares of FR traded up $0.75 during trading hours on Friday, reaching $55.05. The stock had a trading volume of 1,169,708 shares, compared to its average volume of 1,021,835. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $58.17. The stock has a market capitalization 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 company's 50-day moving average is $54.05 and its two-hundred day moving average is $53.84.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced 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 return on equity of 10.64% and a net margin of 42.94%. Research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS 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. Stockholders of record on Monday, March 31st will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.23%. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. 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.