Azzad Asset Management Inc. ADV Increases Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Azzad Asset Management Inc. ADV lifted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,177 shares of the real estate investment trust’s stock after purchasing an additional 405 shares during the period. Azzad Asset Management Inc. ADV’s holdings in First Industrial Realty Trust were worth $325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farmers & Merchants Investments Inc. raised its holdings in First Industrial Realty Trust by 781.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 469 shares in the last quarter. Mather Group LLC. purchased a new stake in First Industrial Realty Trust in the first quarter valued at $50,000. EdgeRock Capital LLC acquired a new position in First Industrial Realty Trust in the fourth quarter valued at $56,000. C M Bidwell & Associates Ltd. grew its holdings in shares of First Industrial Realty Trust by 119.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in shares of First Industrial Realty Trust during the fourth quarter worth about $82,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

FR stock traded up $0.15 during trading on Wednesday, hitting $47.63. The stock had a trading volume of 139,721 shares, compared to its average volume of 1,053,025. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 21.88 and a beta of 1.07. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.25. The company’s 50 day moving average price is $47.07 and its two-hundred day moving average price is $50.48. 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 Dividend Announcement

The firm also recently declared 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Friday, June 28th. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Analysts Set New Price Targets

Several analysts recently commented on FR shares. Wedbush cut shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $59.00 to $49.00 in a research note on Thursday, April 25th. JPMorgan Chase & Co. decreased their target price on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. BNP Paribas assumed coverage on First Industrial Realty Trust in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 price target on the stock. Mizuho reaffirmed a “buy” rating and set a $58.00 price objective on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Finally, Scotiabank lowered their target price on First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust presently has an average rating of “Hold” and an average price target of $53.42.

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.