Sovran Advisors LLC Takes Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Sovran Advisors LLC acquired a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 12,635 shares of the real estate investment trust’s stock, valued at approximately $631,000.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in shares of First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 214 shares during the last quarter. Stifel Financial Corp raised its holdings in First Industrial Realty Trust by 1.1% in the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock worth $1,450,000 after purchasing an additional 278 shares during the period. Fortem Financial Group LLC lifted its position in First Industrial Realty Trust by 2.9% during the fourth quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 292 shares in the last quarter. Blue Trust Inc. grew its holdings in First Industrial Realty Trust by 30.7% during the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 292 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in First Industrial Realty Trust by 13.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 331 shares in 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 weighed in on the company. Barclays lowered their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. Finally, KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $57.38.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $56.04 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 25.71 and a beta of 1.09. The firm has a fifty day moving average price of $51.65 and a 200 day moving average price of $53.52. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 67.89%.

About First Industrial Realty Trust

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.