HGI Capital Management LLC Grows Position in First Industrial Realty Trust, Inc. (NYSE:FR)

HGI Capital Management LLC raised its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 16.6% during the fourth quarter, HoldingsChannel reports. The firm owned 36,680 shares of the real estate investment trust’s stock after purchasing an additional 5,230 shares during the period. First Industrial Realty Trust comprises 1.9% of HGI Capital Management LLC’s portfolio, making the stock its 15th largest holding. HGI Capital Management LLC’s holdings in First Industrial Realty Trust were worth $1,839,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FR. Vanguard Group Inc. grew its stake in First Industrial Realty Trust by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust’s stock valued at $962,039,000 after purchasing an additional 304,589 shares during the last quarter. Invesco Ltd. grew its position in shares of First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock worth $214,401,000 after buying an additional 1,903,164 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after acquiring an additional 747,101 shares in the last quarter. Geode Capital Management LLC lifted its position in First Industrial Realty Trust by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust’s stock valued at $124,492,000 after acquiring an additional 14,298 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in First Industrial Realty Trust by 5.7% in the fourth quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust’s stock valued at $121,922,000 after acquiring an additional 130,819 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FR. Robert W. Baird upped their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price on the stock. Scotiabank dropped their price target on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Monday, April 7th. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price objective for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Finally, Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $57.77.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $47.53 on Friday. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. 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 capitalization of $6.29 billion, a P/E ratio of 21.80 and a beta of 1.07. The stock has a 50-day simple moving average of $53.11 and a two-hundred day simple moving average of $52.82.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The company had revenue of $177.07 million for the quarter, compared to analysts’ expectations of $176.98 million. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a yield of 3.74%. First Industrial Realty Trust’s dividend payout ratio is 81.65%.

First Industrial Realty Trust Company 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.