Farmers & Merchants Investments Inc. Buys 469 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Farmers & Merchants Investments Inc. increased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 781.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 529 shares of the real estate investment trust’s stock after acquiring an additional 469 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in First Industrial Realty Trust were worth $28,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State of Michigan Retirement System boosted its stake in 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. Natixis Advisors L.P. boosted its stake in First Industrial Realty Trust by 1.3% during the third quarter. Natixis Advisors L.P. now owns 23,647 shares of the real estate investment trust’s stock worth $1,125,000 after acquiring an additional 303 shares in the last quarter. Vanderbilt University boosted its stake in First Industrial Realty Trust by 6.7% during the fourth quarter. Vanderbilt University now owns 5,033 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 316 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its stake in First Industrial Realty Trust by 1.8% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 20,912 shares of the real estate investment trust’s stock worth $1,101,000 after acquiring an additional 363 shares in the last quarter. Finally, CWM LLC raised its holdings in First Industrial Realty Trust by 31.9% during the fourth 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. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

FR traded up $0.37 during trading on Tuesday, hitting $47.50. 283,021 shares of the company traded hands, compared to its average volume of 1,055,154. The firm has a market cap of $6.29 billion, a P/E ratio of 21.73 and a beta of 1.07. The stock’s fifty day moving average is $47.05 and its 200 day moving average is $50.52. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust, Inc. has a one year low of $40.44 and a one year high of $55.22.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.48 dividend on an annualized basis and a yield of 3.12%. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FR shares. Mizuho restated a “buy” rating and set a $58.00 price objective on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Robert W. Baird lowered 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 report on Wednesday, May 1st. Wedbush downgraded shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $59.00 to $49.00 in a report on Thursday, April 25th. Scotiabank lowered their price objective on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating on the stock in a report on Thursday, May 16th. Finally, BNP Paribas assumed coverage on shares of First Industrial Realty Trust in a report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $53.42.

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.