Kennondale Capital Management LLC Makes New Investment in First Industrial Realty Trust, Inc. (NYSE:FR)

Kennondale Capital Management LLC bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,963 shares of the real estate investment trust’s stock, valued at approximately $600,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after purchasing an additional 747,101 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of First Industrial Realty Trust by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock valued at $138,214,000 after acquiring an additional 15,093 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of First Industrial Realty Trust by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust’s stock valued at $110,581,000 after acquiring an additional 23,280 shares during the last quarter. Rush Island Management LP acquired a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at about $60,848,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of First Industrial Realty Trust by 290.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock valued at $50,105,000 after acquiring an additional 665,920 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Up 0.8 %

Shares of FR opened at $55.53 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm has a market cap of $7.35 billion, a P/E ratio of 25.47 and a beta of 1.07. The company’s 50-day moving average price is $54.17 and its 200 day moving average price is $53.84. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $58.17.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a dividend of $0.445 per share. The ex-dividend date is Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a yield of 3.21%. First Industrial Realty Trust’s dividend payout ratio is 81.65%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FR. Barclays lowered 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 research 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 boosted their price target for the company from $52.00 to $59.00 in a research report on Friday, February 21st. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Robert W. Baird boosted their price target on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.31.

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.