FJ Capital Management LLC Acquires 12,806 Shares of First Industrial Realty Trust, Inc. $FR

FJ Capital Management LLC boosted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 38.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,421 shares of the real estate investment trust’s stock after buying an additional 12,806 shares during the quarter. FJ Capital Management LLC’s holdings in First Industrial Realty Trust were worth $2,659,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of First Industrial Realty Trust by 856,065.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after buying an additional 9,784,830 shares during the period. Norges Bank acquired a new stake in First Industrial Realty Trust during the 4th quarter valued at $320,075,000. Cohen & Steers Inc. bought a new position in First Industrial Realty Trust in the 4th quarter worth approximately $118,365,000. Rush Island Management LP acquired a new position in First Industrial Realty Trust during the 2nd quarter valued at about $79,904,000. Finally, AQR Capital Management LLC grew its stake in shares of First Industrial Realty Trust by 491.9% during the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after purchasing an additional 1,541,778 shares during the period. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Up 1.1%

Shares of NYSE:FR opened at $63.49 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $47.36 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $8.42 billion, a P/E ratio of 24.61 and a beta of 1.05. The company has a 50-day simple moving average of $61.77 and a 200 day simple moving average of $59.91.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. First Industrial Realty Trust’s payout ratio is presently 77.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Truist Financial lifted their price objective on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wells Fargo & Company decreased their price objective on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Scotiabank lifted their price target on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of First Industrial Realty Trust in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.93.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.