Lake Street Private Wealth LLC Has $337,000 Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Lake Street Private Wealth LLC lessened its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 15.0% in the first quarter, Holdings Channel reports. The firm owned 6,409 shares of the real estate investment trust’s stock after selling 1,132 shares during the quarter. Lake Street Private Wealth LLC’s holdings in First Industrial Realty Trust were worth $337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farmers & Merchants Investments Inc. raised its stake in First Industrial Realty Trust by 781.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 469 shares in the last quarter. Mather Group LLC. acquired a new position in First Industrial Realty Trust in the first quarter valued at about $50,000. EdgeRock Capital LLC acquired a new position in First Industrial Realty Trust in the fourth quarter valued at about $56,000. C M Bidwell & Associates Ltd. raised its stake in First Industrial Realty Trust by 119.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 765 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in First Industrial Realty Trust during the fourth quarter worth about $82,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $47.63 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.25. First Industrial Realty Trust, Inc. has a one year low of $40.44 and a one year high of $55.22. The business’s 50 day simple moving average is $47.14 and its 200 day simple moving average is $50.44. The stock has a market capitalization of $6.30 billion, a PE ratio of 21.95 and a beta of 1.07.

First Industrial Realty Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

FR has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Robert W. Baird lowered their target price on First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Barclays reissued an “equal weight” rating and set a $53.00 target price (down previously from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Wedbush downgraded First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $59.00 to $49.00 in a research note on Thursday, April 25th. Finally, BNP Paribas initiated coverage on First Industrial Realty Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $57.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.42.

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.