Boston Partners Buys 8,561 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Boston Partners boosted its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 400,057 shares of the real estate investment trust’s stock after purchasing an additional 8,561 shares during the quarter. Boston Partners owned approximately 0.30% of First Industrial Realty Trust worth $20,177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of First Industrial Realty Trust by 28.7% in the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after buying an additional 747,101 shares in the last quarter. Geode Capital Management LLC increased its holdings in First Industrial Realty Trust by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock worth $138,214,000 after acquiring an additional 15,093 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in First Industrial Realty Trust by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust’s stock worth $110,581,000 after purchasing an additional 23,280 shares in the last quarter. Rush Island Management LP bought a new position in First Industrial Realty Trust in the 3rd quarter valued at $60,848,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of First Industrial Realty Trust by 290.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock valued at $50,105,000 after purchasing an additional 665,920 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $54.95 on Friday. The company’s fifty day moving average is $54.51 and its 200 day moving average is $53.85. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $58.17. The stock has a market cap of $7.27 billion, a PE ratio of 25.21 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating 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%. Research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a $0.445 dividend. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 annualized dividend and a dividend yield of 3.24%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 81.65%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird increased their price objective 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. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price target for the company from $52.00 to $59.00 in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. Finally, KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.31.

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.