OVERSEA CHINESE BANKING Corp Ltd Reduces Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 88.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,796 shares of the real estate investment trust's stock after selling 43,987 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in First Industrial Realty Trust were worth $305,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Covestor Ltd boosted its position in shares of First Industrial Realty Trust by 14.0% during the 3rd quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust's stock valued at $93,000 after acquiring an additional 241 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of First Industrial Realty Trust during the fourth quarter worth approximately $153,000. Trust Point Inc. bought a new stake in shares of First Industrial Realty Trust during the fourth quarter worth approximately $204,000. DAVENPORT & Co LLC bought a new stake in shares of First Industrial Realty Trust during the fourth quarter worth approximately $209,000. Finally, Shell Asset Management Co. raised its stake in shares of First Industrial Realty Trust by 19.6% during the third quarter. Shell Asset Management Co. now owns 4,412 shares of the real estate investment trust's stock worth $210,000 after buying an additional 723 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock traded up $0.17 on Monday, reaching $45.80. The stock had a trading volume of 1,045,995 shares, compared to its average volume of 1,186,426. First Industrial Realty Trust, Inc. has a 1 year low of $40.44 and a 1 year high of $55.22. The company has a market cap of $6.06 billion, a P/E ratio of 21.03 and a beta of 1.01. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. The business's 50 day moving average is $52.36 and its two-hundred day moving average is $49.93.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.37 dividend. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Wednesday, March 27th. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 68.20%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FR. JPMorgan Chase & Co. raised their price objective on shares of First Industrial Realty Trust from $51.00 to $59.00 and gave the stock an "overweight" rating in a report on Tuesday, February 20th. TheStreet raised shares of First Industrial Realty Trust from a "c+" rating to a "b-" rating in a report on Thursday, January 11th. The Goldman Sachs Group lifted their target price on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a "sell" rating in a report on Thursday, January 11th. Truist Financial lifted their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a "buy" rating in a research note on Tuesday, February 20th. Finally, Royal Bank of Canada boosted their target price on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Friday, February 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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.