Daiwa Securities Group Inc. Lowers Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Daiwa Securities Group Inc. decreased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 7.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 52,764 shares of the real estate investment trust’s stock after selling 4,513 shares during the period. Daiwa Securities Group Inc.’s holdings in First Industrial Realty Trust were worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in First Industrial Realty Trust by 34.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 96,655 shares of the real estate investment trust’s stock worth $4,845,000 after acquiring an additional 24,814 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of First Industrial Realty Trust during the 4th quarter worth $389,000. Raymond James Financial Inc. acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth $6,455,000. Arizona State Retirement System increased its holdings in shares of First Industrial Realty Trust by 0.8% in the 4th quarter. Arizona State Retirement System now owns 38,409 shares of the real estate investment trust’s stock valued at $1,925,000 after purchasing an additional 302 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at about $1,463,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock opened at $54.28 on Friday. The stock has a market capitalization of $7.19 billion, a P/E ratio of 24.90 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $58.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The firm’s 50-day moving average is $53.96 and its two-hundred day moving average is $53.89.

First Industrial Realty Trust (NYSE:FR) last announced its 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%. Equities analysts predict 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 announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a $0.445 dividend. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio is presently 81.65%.

Analyst Ratings Changes

FR has been the topic of several recent analyst reports. 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 target price on the stock. Robert W. Baird upped their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Barclays reduced their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.31.

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.