16,939 Shares in First Industrial Realty Trust, Inc. $FR Acquired by Friedenthal Financial

Friedenthal Financial acquired a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,939 shares of the real estate investment trust’s stock, valued at approximately $980,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Citadel Advisors LLC lifted its stake in shares of First Industrial Realty Trust by 70.8% during the 3rd quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock valued at $128,581,000 after buying an additional 1,035,385 shares in the last quarter. M&T Bank Corp bought a new position in First Industrial Realty Trust in the 4th quarter worth approximately $1,134,000. Hudson Bay Capital Management LP purchased a new position in First Industrial Realty Trust in the 3rd quarter valued at approximately $20,172,000. NewSquare Capital LLC grew its stake in First Industrial Realty Trust by 50,026.4% in the 3rd quarter. NewSquare Capital LLC now owns 26,567 shares of the real estate investment trust’s stock valued at $1,367,000 after buying an additional 26,514 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in First Industrial Realty Trust by 52.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 71,574 shares of the real estate investment trust’s stock valued at $3,684,000 after acquiring an additional 24,500 shares during the period. 99.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on FR shares. Cantor Fitzgerald restated a “neutral” rating and set a $65.00 target price on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Scotiabank increased their price objective on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Wells Fargo & Company cut their target price on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.93.

First Industrial Realty Trust Trading Down 0.3%

First Industrial Realty Trust stock opened at $63.44 on Thursday. The stock has a market cap of $8.41 billion, a P/E ratio of 24.59 and a beta of 1.05. First Industrial Realty Trust, Inc. has a fifty-two week low of $47.36 and a fifty-two week high of $64.66. The firm’s fifty day moving average price is $62.25 and its 200-day moving average price is $60.25. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04.

First Industrial Realty Trust Announces Dividend

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

About First Industrial Realty Trust

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.