Sovran Advisors LLC Takes Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Sovran Advisors LLC bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,635 shares of the real estate investment trust’s stock, valued at approximately $631,000.

Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of First Industrial Realty Trust by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after purchasing an additional 747,101 shares during the period. Geode Capital Management LLC raised its stake in First Industrial Realty Trust by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock worth $138,214,000 after buying an additional 15,093 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in First Industrial Realty Trust by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock worth $122,182,000 after buying an additional 81,826 shares during the period. Rush Island Management LP bought a new stake in First Industrial Realty Trust during the 3rd quarter valued at approximately $60,848,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 worth $50,105,000 after acquiring an additional 665,920 shares during the period. 99.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on FR shares. Barclays lowered their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. Finally, KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $57.38.

First Industrial Realty Trust Stock Up 1.9 %

Shares of First Industrial Realty Trust stock opened at $56.04 on Wednesday. The company has a 50-day simple moving average of $51.65 and a two-hundred day simple moving average of $53.52. The stock has a market capitalization of $7.42 billion, a PE ratio of 25.71 and a beta of 1.09. First Industrial Realty Trust, Inc. has a 52-week low of $45.10 and a 52-week high of $57.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, March 31st. 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 dividend yield of 3.18%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 67.89%.

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.