FJ Capital Management LLC Purchases 12,806 Shares of First Industrial Realty Trust, Inc. $FR

FJ Capital Management LLC lifted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 38.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 46,421 shares of the real estate investment trust’s stock after acquiring an additional 12,806 shares during the period. FJ Capital Management LLC’s holdings in First Industrial Realty Trust were worth $2,659,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FR. Citadel Advisors LLC grew its holdings in shares of First Industrial Realty Trust by 70.8% during the third quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock worth $128,581,000 after purchasing an additional 1,035,385 shares during the last quarter. M&T Bank Corp bought a new stake in shares of First Industrial Realty Trust during the 4th quarter valued at about $1,134,000. Hudson Bay Capital Management LP acquired a new stake in First Industrial Realty Trust during the third quarter worth approximately $20,172,000. Lasalle Investment Management Securities LLC grew its stake in First Industrial Realty Trust by 12.6% during the third quarter. Lasalle Investment Management Securities LLC now owns 733,289 shares of the real estate investment trust’s stock worth $37,742,000 after purchasing an additional 81,878 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in First Industrial Realty Trust by 52.0% in the third quarter. Handelsbanken Fonder AB now owns 71,574 shares of the real estate investment trust’s stock worth $3,684,000 after purchasing an additional 24,500 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock opened at $63.49 on Friday. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 24.61 and a beta of 1.05. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.90. The business has a 50-day simple moving average of $61.77 and a 200 day simple moving average of $59.91. 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 Announces Dividend

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

Wall Street Analyst Weigh In

FR has been the subject of a number of research analyst reports. Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Cantor Fitzgerald restated a “neutral” rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a report on Monday, April 27th. 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, June 1st. Finally, KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.