Hsbc Holdings PLC Buys 33,478 Shares of First Industrial Realty Trust, Inc. $FR

Hsbc Holdings PLC increased its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 218,448 shares of the real estate investment trust’s stock after purchasing an additional 33,478 shares during the period. Hsbc Holdings PLC’s holdings in First Industrial Realty Trust were worth $12,513,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Industrial Realty Trust by 856,065.6% during the fourth 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 during the period. Norges Bank acquired a new stake in First Industrial Realty Trust in the 4th quarter valued at approximately $320,075,000. Invesco Ltd. lifted its stake in First Industrial Realty Trust by 8.0% in the 3rd quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock valued at $223,571,000 after acquiring an additional 323,248 shares in the last quarter. Centersquare Investment Management LLC lifted its stake in First Industrial Realty Trust by 10.5% in the 4th quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust’s stock valued at $151,752,000 after acquiring an additional 252,650 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in First Industrial Realty Trust by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 2,629,908 shares of the real estate investment trust’s stock worth $150,644,000 after acquiring an additional 41,042 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

FR has been the subject of a number of analyst reports. Weiss Ratings raised shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Raymond James Financial reissued a “strong-buy” rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Robert W. Baird increased their price objective on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Wells Fargo & Company decreased their target price on shares of 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, June 1st. Finally, Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.93.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $63.08 on Friday. The stock has a market cap of $8.36 billion, a PE ratio of 24.45 and a beta of 1.05. 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 firm has a 50-day moving average of $62.29 and a 200-day moving average of $60.29. First Industrial Realty Trust, Inc. has a 52-week low of $47.36 and a 52-week high of $64.66.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 77.52%.

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.