New York Life Investment Management LLC Purchases 38,436 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

New York Life Investment Management LLC raised its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 193.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,328 shares of the real estate investment trust's stock after acquiring an additional 38,436 shares during the quarter. New York Life Investment Management LLC's holdings in First Industrial Realty Trust were worth $3,072,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of First Industrial Realty Trust by 31.9% in the 4th quarter. CWM LLC now owns 1,613 shares of the real estate investment trust's stock worth $85,000 after buying an additional 390 shares during the last quarter. Covestor Ltd lifted its position in shares of First Industrial Realty Trust by 14.0% in the 3rd quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust's stock worth $93,000 after buying an additional 241 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of First Industrial Realty Trust in the 4th quarter worth about $153,000. Trust Point Inc. bought a new position in shares of First Industrial Realty Trust in the 4th quarter worth about $204,000. Finally, DAVENPORT & Co LLC bought a new position in shares of First Industrial Realty Trust in the 4th quarter worth about $209,000. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FR. Royal Bank of Canada raised their price target on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, February 16th. TheStreet upgraded shares of First Industrial Realty Trust from a "c+" rating to a "b-" rating in a research report on Thursday, January 11th. Robert W. Baird cut their price objective on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an "outperform" rating on the stock in a research report on Wednesday. Barclays reiterated an "equal weight" rating and issued a $53.00 price objective (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Finally, The Goldman Sachs Group lifted their price objective on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a "sell" rating in a research report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $53.40.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock traded up $0.58 during trading hours on Friday, hitting $47.25. 1,405,088 shares of the company traded hands, compared to its average volume of 1,263,928. The firm has a market cap of $6.25 billion, a P/E ratio of 21.77 and a beta of 1.05. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The firm's 50-day simple moving average is $50.72 and its two-hundred day simple moving average is $49.96. First Industrial Realty Trust, Inc. has a 1-year low of $40.44 and a 1-year high of $55.22.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.37 per share. The ex-dividend date is Friday, June 28th. This represents a $1.48 annualized dividend and a yield of 3.13%. First Industrial Realty Trust's payout ratio is 68.20%.

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.