Easterly Investment Partners LLC Invests $680,000 in First Industrial Realty Trust, Inc. $FR

Easterly Investment Partners LLC bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,880 shares of the real estate investment trust’s stock, valued at approximately $680,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its position in First Industrial Realty Trust by 856,065.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after buying an additional 9,784,830 shares in the last quarter. Norges Bank acquired a new position in shares of First Industrial Realty Trust during the fourth quarter worth approximately $320,075,000. Rush Island Management LP acquired a new position in shares of First Industrial Realty Trust during the second quarter worth approximately $79,904,000. AQR Capital Management LLC lifted its position in shares of First Industrial Realty Trust by 491.9% during the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after purchasing an additional 1,541,778 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. acquired a new position in shares of First Industrial Realty Trust during the third quarter worth approximately $74,584,000. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Down 3.5%

First Industrial Realty Trust stock opened at $59.71 on Tuesday. The company’s 50 day simple moving average is $61.05 and its 200 day simple moving average is $59.55. First Industrial Realty Trust, Inc. has a fifty-two week low of $47.36 and a fifty-two week high of $64.66. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 23.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 77.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Wells Fargo & Company reduced their target price on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday. Truist Financial upped their target price on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Citigroup upped their target price on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Finally, Royal Bank Of Canada upped their target price on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average price target of $63.93.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.