First Industrial Realty Trust, Inc. (NYSE:FR) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 194.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 792,593 shares of the real estate investment trust’s stock after acquiring an additional 523,429 shares during the quarter. Prudential Financial Inc. owned approximately 0.60% of First Industrial Realty Trust worth $41,564,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of FR. Versant Capital Management Inc lifted its stake in shares of First Industrial Realty Trust by 92.5% in the 4th quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 481 shares during the period. UMB Bank n.a. raised its position in shares of 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 worth $54,000 after acquiring an additional 214 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 747 shares in the last quarter. Blue Trust Inc. grew its position in shares of First Industrial Realty Trust by 30.7% during the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 292 shares during the period. Finally, Smartleaf Asset Management LLC increased 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 in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Down 0.3 %

FR stock opened at $54.13 on Wednesday. The company has a market cap of $7.17 billion, a price-to-earnings ratio of 24.83 and a beta of 1.07. The firm has a 50-day moving average of $54.80 and a two-hundred day moving average of $53.75. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $58.17. 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) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, 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 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 $0.445 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.29%. 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 is currently 81.65%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group upgraded 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. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. 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 objective for the company. Barclays increased their price objective on shares of First Industrial Realty Trust from $55.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Robert W. Baird upped their price target 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. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $58.38.

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.