Y Intercept Hong Kong Ltd Raises Holdings in First Industrial Realty Trust, Inc. $FR

Key Points

• Y Intercept Hong Kong Ltd increased its stake in First Industrial Realty Trust by 456.7% in the first quarter, ending with 27,959 shares valued at about $1.62 million.
• Institutional ownership remains extremely high, with hedge funds and other investors holding 99.85% of the company’s stock. Several firms, including Citadel Advisors and CBRE Investment Management, also recently boosted their positions.
• First Industrial Realty Trust reported a quarterly dividend of $0.50 per share, or $2.00 annually, for a 3.1% yield. Analysts currently view the stock as a Moderate Buy with a consensus price target of $63.93.

Y Intercept Hong Kong Ltd boosted its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 456.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,959 shares of the real estate investment trust's stock after acquiring an additional 22,937 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in First Industrial Realty Trust were worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Citadel Advisors LLC lifted its stake in shares of First Industrial Realty Trust by 70.8% in the 3rd quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust's stock valued at $128,581,000 after purchasing an additional 1,035,385 shares in the last quarter. M&T Bank Corp acquired a new stake in First Industrial Realty Trust during the 4th quarter worth approximately $1,134,000. Hudson Bay Capital Management LP purchased a new position in First Industrial Realty Trust in the third quarter valued at approximately $20,172,000. DigitalBridge Group Inc. purchased a new position in First Industrial Realty Trust in the third quarter valued at approximately $1,148,000. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in First Industrial Realty Trust by 4.1% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,438,012 shares of the real estate investment trust's stock valued at $125,484,000 after buying an additional 95,177 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR opened at $64.91 on Friday. The business's 50-day simple moving average is $62.38 and its 200 day simple moving average is $60.63. The company has a market cap of $8.61 billion, a P/E ratio of 25.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust, Inc. has a one year low of $47.38 and a one year high of $65.53.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 77.52%.

Analysts Set New Price Targets

FR has been the subject of several research reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, April 27th. Truist Financial raised their target price on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Robert W. Baird lifted their target price on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Finally, Wells Fargo & Company decreased their price target on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an "equal weight" rating for the company in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $63.93.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc NYSE: FR is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants' supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.

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