Alliancebernstein L.P. Boosts Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Alliancebernstein L.P. increased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 5.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,432,120 shares of the real estate investment trust’s stock after acquiring an additional 130,819 shares during the period. Alliancebernstein L.P. owned approximately 1.84% of First Industrial Realty Trust worth $121,922,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in First Industrial Realty Trust in the fourth quarter valued at approximately $90,489,000. Rush Island Management LP acquired a new position in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $60,848,000. JPMorgan Chase & Co. lifted its position in shares of First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after buying an additional 747,101 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in First Industrial Realty Trust by 290.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock valued at $50,105,000 after acquiring an additional 665,920 shares during the period. Finally, Prudential Financial Inc. raised its position in First Industrial Realty Trust by 194.5% during the fourth quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust’s stock worth $41,564,000 after acquiring an additional 523,429 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $54.06 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market capitalization of $7.16 billion, a PE ratio of 24.80 and a beta of 1.07. The firm’s 50-day moving average is $55.11 and its two-hundred day moving average is $53.68. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $58.17.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 81.65%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price for the company. Robert W. Baird lifted their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price objective for the company from $52.00 to $59.00 in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $58.38.

First Industrial Realty Trust 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.