First Industrial Realty Trust, Inc. (NYSE:FR) Position Raised by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 38.5% in the 1st quarter, Holdings Channel reports. The fund owned 6,090 shares of the real estate investment trust’s stock after buying an additional 1,693 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in First Industrial Realty Trust were worth $320,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in First Industrial Realty Trust in the 4th quarter worth about $78,559,000. Frontier Capital Management Co. LLC increased its position in First Industrial Realty Trust by 788.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock valued at $65,598,000 after acquiring an additional 1,105,286 shares during the period. Centersquare Investment Management LLC raised its stake in First Industrial Realty Trust by 23.6% during the 4th quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock valued at $239,728,000 after acquiring an additional 869,676 shares in the last quarter. Lasalle Investment Management Securities LLC boosted its position in First Industrial Realty Trust by 49.7% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,633,051 shares of the real estate investment trust’s stock worth $86,013,000 after acquiring an additional 541,909 shares during the period. Finally, Crestline Management LP bought a new position in shares of First Industrial Realty Trust in the fourth quarter worth $26,335,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on FR. BNP Paribas started coverage on shares of First Industrial Realty Trust in a report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 price objective for the company. Robert W. Baird decreased their price objective on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. dropped their target price on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Mizuho reaffirmed a “buy” rating and set a $58.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Finally, Scotiabank lowered their price target on First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.42.

First Industrial Realty Trust Price Performance

FR stock opened at $47.60 on Thursday. First Industrial Realty Trust, Inc. has a one year low of $40.44 and a one year high of $55.22. The firm has a 50-day moving average of $47.10 and a two-hundred day moving average of $50.46. The firm has a market capitalization of $6.30 billion, a PE ratio of 21.93 and a beta of 1.07. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Friday, June 28th. First Industrial Realty Trust’s dividend payout ratio is 68.20%.

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.