Arizona State Retirement System Has $1.93 Million Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Arizona State Retirement System grew its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,409 shares of the real estate investment trust’s stock after purchasing an additional 302 shares during the quarter. Arizona State Retirement System’s holdings in First Industrial Realty Trust were worth $1,925,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Rush Island Management LP acquired a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $60,848,000. JPMorgan Chase & Co. increased its stake 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 valued at $187,798,000 after purchasing an additional 747,101 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in First Industrial Realty Trust by 290.6% in the third 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 purchasing an additional 665,920 shares during the period. Zimmer Partners LP acquired a new stake in First Industrial Realty Trust in the third quarter worth $18,649,000. Finally, NFJ Investment Group LLC bought a new position in shares of First Industrial Realty Trust during the third quarter worth $7,778,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Up 0.5 %

First Industrial Realty Trust stock opened at $56.14 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. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $58.17. The company has a fifty day simple moving average of $53.74 and a 200 day simple moving average of $53.87. The company has a market cap of $7.43 billion, a P/E ratio of 25.75 and a beta of 1.07.

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, 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%. Research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.445 per share. The ex-dividend date is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.17%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio is currently 81.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FR. Robert W. Baird upped their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Barclays cut 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 raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.