Alliancebernstein L.P. Increases Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Alliancebernstein L.P. raised its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,432,120 shares of the real estate investment trust’s stock after buying an additional 130,819 shares during the period. Alliancebernstein L.P.’s holdings in First Industrial Realty Trust were worth $121,922,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Howard Capital Management Group LLC acquired a new position in shares of First Industrial Realty Trust in the third quarter valued at approximately $206,000. Cerity Partners LLC purchased a new position in First Industrial Realty Trust in the 3rd quarter valued at approximately $496,000. FMR LLC grew its stake in shares of First Industrial Realty Trust by 6.2% in the third quarter. FMR LLC now owns 326,754 shares of the real estate investment trust’s stock worth $18,292,000 after acquiring an additional 18,958 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of First Industrial Realty Trust by 290.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock worth $50,105,000 after acquiring an additional 665,920 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in shares of First Industrial Realty Trust by 78.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,691 shares of the real estate investment trust’s stock worth $207,000 after acquiring an additional 1,627 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group upgraded shares of 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 note on Friday, February 21st. Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target for the company. Finally, Robert W. Baird increased their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $58.38.

First Industrial Realty Trust Price Performance

Shares of FR opened at $54.06 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $58.17. The stock has a market cap of $7.16 billion, a PE ratio of 24.80 and a beta of 1.07. The firm has a fifty day moving average price of $55.11 and a 200 day moving average price of $53.68.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate 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, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a $0.445 dividend. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio is presently 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.