OVERSEA CHINESE BANKING Corp Ltd Purchases 39,229 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 79.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,508 shares of the real estate investment trust's stock after buying an additional 39,229 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.07% of First Industrial Realty Trust worth $4,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bessemer Group Inc. boosted its stake in shares of First Industrial Realty Trust by 93.0% during the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 225 shares during the period. Alpine Bank Wealth Management bought a new stake in First Industrial Realty Trust during the 1st quarter valued at about $26,000. Parallel Advisors LLC lifted its holdings in First Industrial Realty Trust by 285.1% during the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 821 shares in the last quarter. Fifth Third Bancorp lifted its holdings in First Industrial Realty Trust by 22.2% during the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 236 shares in the last quarter. Finally, FIL Ltd lifted its holdings in First Industrial Realty Trust by 32.8% during the 4th quarter. FIL Ltd now owns 1,449 shares of the real estate investment trust's stock valued at $73,000 after buying an additional 358 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Up 1.0%

Shares of NYSE:FR traded up $0.48 during trading hours on Friday, hitting $49.85. The company's stock had a trading volume of 1,180,522 shares, compared to its average volume of 1,228,331. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 24.37 and a beta of 1.07. The firm's fifty day moving average price is $49.37 and its 200 day moving average price is $51.00.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. The firm had revenue of $180.16 million during the quarter, compared to analyst estimates of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. First Industrial Realty Trust's revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 EPS. As a group, research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.57%. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 86.83%.

Analyst Upgrades and Downgrades

FR has been the subject of a number of research analyst reports. Robert W. Baird decreased their price objective on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Royal Bank Of Canada decreased their price objective on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. The Goldman Sachs Group decreased their price objective on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Scotiabank lifted their price objective on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $55.91.

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.