Treasurer of the State of North Carolina Increases Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Treasurer of the State of North Carolina increased its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 0.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,061 shares of the real estate investment trust’s stock after acquiring an additional 360 shares during the quarter. Treasurer of the State of North Carolina’s holdings in First Industrial Realty Trust were worth $2,911,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in FR. Versant Capital Management Inc lifted its holdings in 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 in the last quarter. UMB Bank n.a. boosted its position in First Industrial Realty Trust by 24.7% during 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 last quarter. Venturi Wealth Management LLC boosted its position in First Industrial Realty Trust by 200.8% during the fourth 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 during the last quarter. Blue Trust Inc. grew its stake in 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 in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in 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 acquiring an additional 575 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FR has been the topic of several recent research reports. Scotiabank lowered their target price on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, April 7th. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 target price for the company. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their price target for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Finally, Robert W. Baird upped 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 report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.77.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $46.90 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The firm has a market cap of $6.21 billion, a P/E ratio of 21.51 and a beta of 1.07. The firm’s 50 day moving average price is $53.26 and its 200-day moving average price is $52.88. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping 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, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be given 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 yield of 3.80%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s payout ratio is currently 81.65%.

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.