Proficio Capital Partners LLC Invests $1.46 Million in First Industrial Realty Trust, Inc. (NYSE:FR)

Proficio Capital Partners LLC purchased a new position in First Industrial Realty Trust, Inc. (NYSE:FR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 29,176 shares of the real estate investment trust’s stock, valued at approximately $1,463,000.

Several other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. lifted its stake 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 acquiring an additional 747,101 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 acquiring an additional 15,093 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of First Industrial Realty Trust by 1.1% in the fourth 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 acquiring an additional 23,280 shares in the last quarter. Rush Island Management LP acquired a new stake in First Industrial Realty Trust during the third quarter valued at approximately $60,848,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in First Industrial Realty Trust by 290.6% during 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 valued at $50,105,000 after buying an additional 665,920 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $54.95 on Friday. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $58.17. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 25.21 and a beta of 1.07. The business has a 50 day simple moving average of $54.51 and a 200 day simple moving average of $53.85. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data 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%. On average, equities research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current 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 issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.24%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio is 81.65%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective on the stock. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and upped their price objective for the company from $52.00 to $59.00 in a research note on Friday, February 21st. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Finally, Robert W. Baird upped their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company 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.