Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 34.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 96,655 shares of the real estate investment trust’s stock after acquiring an additional 24,814 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Industrial Realty Trust were worth $4,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc grew its position in First Industrial Realty Trust by 92.5% during the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 481 shares during the period. 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 in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of First Industrial Realty Trust by 200.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 747 shares during the period. Blue Trust Inc. increased its stake in First Industrial Realty Trust by 30.7% in the 4th 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 in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in First Industrial Realty Trust by 73.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock worth $68,000 after purchasing an additional 575 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FR shares. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target for the company. Barclays reduced their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Robert W. Baird upped their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.31.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $55.05 on Friday. The stock has a fifty day moving average price of $54.05 and a 200 day moving average price of $53.88. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $58.17. The firm has a market capitalization of $7.29 billion, a P/E ratio of 25.25 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The business 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 $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio (DPR) is 81.65%.

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.