Raymond James Financial Inc. Invests $6.46 Million in First Industrial Realty Trust, Inc. (NYSE:FR)

Raymond James Financial Inc. acquired a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the fourth quarter, HoldingsChannel reports. The fund acquired 128,759 shares of the real estate investment trust’s stock, valued at approximately $6,455,000.

Several other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System increased its position in First Industrial Realty Trust by 0.8% during the 4th quarter. Arizona State Retirement System now owns 38,409 shares of the real estate investment trust’s stock worth $1,925,000 after purchasing an additional 302 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $1,463,000. Cbre Investment Management Listed Real Assets LLC grew its holdings in First Industrial Realty Trust by 35.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 430,245 shares of the real estate investment trust’s stock worth $21,568,000 after acquiring an additional 113,379 shares during the period. Victory Capital Management Inc. raised its position in First Industrial Realty Trust by 6.2% in the fourth quarter. Victory Capital Management Inc. now owns 698,710 shares of the real estate investment trust’s stock worth $35,026,000 after acquiring an additional 40,734 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in 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. 99.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price on the stock. 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. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price target for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Finally, Robert W. Baird upped their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.31.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $53.47 on Monday. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $58.17. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 24.53 and a beta of 1.07. The stock has a fifty day moving average of $54.61 and a two-hundred day moving average of $53.78. 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 posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 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, 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 announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a $0.445 dividend. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.33%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio is presently 81.65%.

First Industrial Realty Trust Profile

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.