63,800 Shares in First Industrial Realty Trust, Inc. (NYSE:FR) Bought by JLP Asset Management LLC

JLP Asset Management LLC bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 63,800 shares of the real estate investment trust's stock, valued at approximately $3,360,000. First Industrial Realty Trust accounts for 4.0% of JLP Asset Management LLC's investment portfolio, making the stock its 9th largest holding.

Several other hedge funds also recently bought and sold shares of the company. State of Michigan Retirement System increased its position in shares of First Industrial Realty Trust by 0.6% during the fourth quarter. State of Michigan Retirement System now owns 31,768 shares of the real estate investment trust's stock worth $1,673,000 after acquiring an additional 200 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in First Industrial Realty Trust by 4.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 5,041 shares of the real estate investment trust's stock valued at $268,000 after purchasing an additional 217 shares in the last quarter. Covestor Ltd grew its position in First Industrial Realty Trust by 14.0% in the third quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust's stock valued at $93,000 after purchasing an additional 241 shares in the last quarter. GYL Financial Synergies LLC grew its position in First Industrial Realty Trust by 0.7% in the third quarter. GYL Financial Synergies LLC now owns 35,469 shares of the real estate investment trust's stock valued at $1,688,000 after purchasing an additional 242 shares in the last quarter. Finally, M&T Bank Corp grew its position in First Industrial Realty Trust by 1.5% in the third quarter. M&T Bank Corp now owns 16,886 shares of the real estate investment trust's stock valued at $804,000 after purchasing an additional 250 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock traded up $1.05 during midday trading on Monday, hitting $52.64. 1,152,584 shares of the company traded hands, compared to its average volume of 1,137,248. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 25.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.06 and a current ratio of 1.06. The firm's fifty day moving average price is $52.77 and its 200-day moving average price is $49.77. First Industrial Realty Trust, Inc. has a 12 month low of $40.44 and a 12 month high of $55.22.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a dividend of $0.37 per share. The ex-dividend date is Wednesday, March 27th. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a dividend yield of 2.81%. First Industrial Realty Trust's payout ratio is 71.50%.

Analysts Set New Price Targets

A number of brokerages have commented on FR. Royal Bank of Canada increased their price target on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, February 16th. Mizuho reiterated a "buy" rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Truist Financial increased their price target on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the company a "buy" rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. increased their price target on shares of First Industrial Realty Trust from $51.00 to $59.00 and gave the company an "overweight" rating in a research note on Tuesday, February 20th. Finally, Barclays reiterated an "equal weight" rating and issued a $53.00 price target (down previously from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $55.30.

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.