Geode Capital Management LLC Buys 41,042 Shares of First Industrial Realty Trust, Inc. $FR

Geode Capital Management LLC grew its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,629,908 shares of the real estate investment trust’s stock after purchasing an additional 41,042 shares during the period. Geode Capital Management LLC’s holdings in First Industrial Realty Trust were worth $150,644,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FR. Measured Wealth Private Client Group LLC bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $26,000. Danske Bank A S bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $51,000. Fulcrum Asset Management LLP bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $79,000. Advisory Services Network LLC bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $97,000. Finally, Fifth Third Bancorp lifted its stake in shares of First Industrial Realty Trust by 16.0% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 242 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Trading Up 2.1%

Shares of NYSE FR opened at $61.64 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50 day moving average price is $61.24 and its 200-day moving average price is $59.66. First Industrial Realty Trust, Inc. has a fifty-two week low of $47.36 and a fifty-two week high of $64.66. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 23.89 and a beta of 1.05.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio is presently 77.52%.

Analysts Set New Price Targets

FR has been the subject of several analyst reports. Truist Financial raised their price objective on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Citigroup raised their price objective on First Industrial Realty Trust from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Wells Fargo & Company lowered their price objective on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday. Robert W. Baird raised their price objective on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average target price of $63.93.

About First Industrial Realty Trust

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.