Prudential Financial Inc. Raises Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Prudential Financial Inc. boosted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 194.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 792,593 shares of the real estate investment trust’s stock after acquiring an additional 523,429 shares during the quarter. Prudential Financial Inc.’s holdings in First Industrial Realty Trust were worth $41,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its position in shares of First Industrial Realty Trust by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock worth $205,000 after purchasing an additional 210 shares during the last quarter. UMB Bank n.a. boosted its stake 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 buying an additional 214 shares during the period. Principal Securities Inc. increased its position in shares of First Industrial Realty Trust by 9.3% during the fourth quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 269 shares during the last quarter. Stifel Financial Corp raised its stake in shares of First Industrial Realty Trust by 1.1% in the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock valued at $1,450,000 after acquiring an additional 278 shares during the period. Finally, Fortem Financial Group LLC lifted its holdings in shares of First Industrial Realty Trust by 2.9% in the 4th quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust’s stock worth $517,000 after acquiring an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock opened at $54.13 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The company has a fifty day simple moving average of $54.80 and a 200-day simple moving average of $53.75. The stock has a market cap of $7.17 billion, a P/E ratio of 24.83 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $58.17.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Equities analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a $0.445 dividend. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.29%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio is currently 81.65%.

Analysts Set New Price Targets

A number of analysts have issued reports on FR shares. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 target price on the stock. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Robert W. Baird raised their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Barclays increased their price target on shares of First Industrial Realty Trust from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $52.00 to $59.00 in a report on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.38.

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.