abrdn plc Has $1.72 Million Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

abrdn plc grew its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 26.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 34,263 shares of the real estate investment trust’s stock after acquiring an additional 7,117 shares during the quarter. abrdn plc’s holdings in First Industrial Realty Trust were worth $1,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in First Industrial Realty Trust in the second quarter valued at about $271,000. GAMMA Investing LLC lifted its holdings in shares of First Industrial Realty Trust by 132.7% in the third quarter. GAMMA Investing LLC now owns 1,103 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 629 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 466 shares in the last quarter. Creative Planning acquired a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $258,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at approximately $253,000. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $55.03 on Tuesday. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 25.24 and a beta of 1.09. The business’s fifty day simple moving average is $51.61 and its two-hundred day simple moving average is $53.50. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $57.35. 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 released 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 return on equity of 10.64% and a net margin of 42.94%. Research analysts anticipate 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 announced 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. This represents a $1.78 annualized dividend and a yield of 3.23%. This is a positive change 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 is currently 67.89%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays dropped 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 report on Monday, November 18th. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.38.

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.