Bahl & Gaynor Inc. Lowers Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Bahl & Gaynor Inc. lessened its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 4.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,097 shares of the real estate investment trust’s stock after selling 1,028 shares during the quarter. Bahl & Gaynor Inc.’s holdings in First Industrial Realty Trust were worth $1,059,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC increased its position in First Industrial Realty Trust by 27.7% during the third quarter. SG Americas Securities LLC now owns 20,506 shares of the real estate investment trust’s stock valued at $976,000 after acquiring an additional 4,447 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of First Industrial Realty Trust by 6.2% in the third quarter. Commonwealth Equity Services LLC now owns 74,187 shares of the real estate investment trust’s stock worth $3,531,000 after purchasing an additional 4,362 shares during the last quarter. Raymond James & Associates grew its holdings in shares of First Industrial Realty Trust by 8.0% in the third quarter. Raymond James & Associates now owns 18,098 shares of the real estate investment trust’s stock worth $861,000 after purchasing an additional 1,344 shares during the last quarter. Bailard Inc. grew its holdings in shares of First Industrial Realty Trust by 34.5% in the third quarter. Bailard Inc. now owns 16,000 shares of the real estate investment trust’s stock worth $761,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Industrial Realty Trust by 9.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,536 shares of the real estate investment trust’s stock worth $3,452,000 after purchasing an additional 6,203 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on FR shares. Truist Financial upped their price target on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Mizuho reiterated a “buy” rating and set a $58.00 target price on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. TheStreet upgraded shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Barclays reiterated an “equal weight” rating and set a $53.00 target price (down from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $53.11.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $46.00 on Friday. First Industrial Realty Trust, Inc. has a 12 month low of $40.44 and a 12 month high of $55.22. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 21.20 and a beta of 1.01. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.06. The firm’s 50 day simple moving average is $51.55 and its 200-day simple moving average is $49.86.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.37 per share. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.48 annualized dividend and a yield of 3.22%. First Industrial Realty Trust’s payout ratio is presently 68.20%.

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.