Mutual of America Capital Management LLC Has $3.51 Million Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Mutual of America Capital Management LLC decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,912 shares of the real estate investment trust’s stock after selling 1,613 shares during the period. Mutual of America Capital Management LLC owned about 0.05% of First Industrial Realty Trust worth $3,505,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FR. Synovus Financial Corp increased its holdings in First Industrial Realty Trust by 96.3% in the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock worth $1,588,000 after buying an additional 13,922 shares during the last quarter. Franklin Resources Inc. increased its holdings in First Industrial Realty Trust by 42.9% in the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock worth $10,546,000 after buying an additional 58,088 shares during the last quarter. Commerce Bank acquired a new position in First Industrial Realty Trust in the third quarter worth approximately $4,817,000. JPMorgan Chase & Co. increased its holdings in 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 during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in First Industrial Realty Trust by 13.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 331 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays dropped their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price target for the company from $52.00 to $59.00 in a report on Friday, February 21st. 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 increased their price target 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and an average price target of $58.31.

First Industrial Realty Trust Stock Up 2.5 %

FR opened at $58.06 on Thursday. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $58.16. 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 stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of 26.63 and a beta of 1.09. The business has a 50 day moving average of $53.23 and a 200-day moving average of $53.83.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate 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%. As a group, sell-side 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. Investors of record on Monday, March 31st will be given a $0.445 dividend. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.07%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is 81.65%.

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.