First Industrial Realty Trust, Inc. (NYSE:FR) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 34.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,655 shares of the real estate investment trust's stock after acquiring an additional 24,814 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of First Industrial Realty Trust worth $4,845,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Synovus Financial Corp boosted its holdings in First Industrial Realty Trust by 96.3% in the third 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 shares of First Industrial Realty Trust by 42.9% in the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock worth $10,546,000 after purchasing an additional 58,088 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of First Industrial Realty Trust in the 4th quarter valued at about $1,463,000. Commerce Bank acquired a new position in shares of First Industrial Realty Trust in the 3rd quarter valued at about $4,817,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock worth $187,798,000 after purchasing an additional 747,101 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of brokerages have weighed in on FR. Barclays reduced their price target 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. 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 report 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 target for the company. KeyCorp raised First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group raised First Industrial Realty Trust from a "sell" rating to a "neutral" rating and upped their target price for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.31.

First Industrial Realty Trust Stock Up 0.8 %

FR stock traded up $0.45 during midday trading on Monday, hitting $55.53. 912,445 shares of the company's stock were exchanged, compared to its average volume of 1,021,398. The firm has a 50 day moving average price of $54.17 and a 200-day moving average price of $53.84. 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 $7.35 billion, a price-to-earnings ratio of 25.47 and a beta of 1.07. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

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 (EPS) 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%. On average, analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors 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 yield of 3.21%. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust's dividend payout ratio (DPR) is 81.65%.

First Industrial Realty Trust 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.