First Industrial Realty Trust, Inc. (NYSE:FR) Stock Position Raised by Pinebridge Investments L.P.

Pinebridge Investments L.P. grew its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,268 shares of the real estate investment trust's stock after acquiring an additional 14,287 shares during the quarter. Pinebridge Investments L.P. owned about 0.07% of First Industrial Realty Trust worth $4,625,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FR. Versant Capital Management Inc boosted its holdings in First Industrial Realty Trust by 92.5% in the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 481 shares during the period. UMB Bank n.a. increased its stake in First Industrial Realty Trust by 24.7% in the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 214 shares during the last quarter. Venturi Wealth Management LLC increased its stake in First Industrial Realty Trust by 200.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 747 shares during the last quarter. Blue Trust Inc. increased its stake in First Industrial Realty Trust by 30.7% in the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust's stock valued at $62,000 after purchasing an additional 292 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in First Industrial Realty Trust by 73.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust's stock valued at $68,000 after purchasing an additional 575 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price target for the company. Robert W. Baird raised their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. cut their price target on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Scotiabank dropped their price objective on First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $57.08.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock traded up $0.08 during midday trading on Thursday, reaching $47.66. 183,160 shares of the stock traded hands, compared to its average volume of 1,118,224. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $51.57 and a two-hundred day moving average price of $52.37. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 21.86 and a beta of 1.07. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The firm had revenue of $177.07 million during the quarter, compared to analyst estimates of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. On average, equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.74%. First Industrial Realty Trust's payout ratio is currently 88.12%.

First Industrial Realty Trust Company 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.