49,279 Shares in First Industrial Realty Trust, Inc. (NYSE:FR) Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR) during the 4th quarter, Holdings Channel reports. The fund bought 49,279 shares of the real estate investment trust’s stock, valued at approximately $2,470,000.

Several other large investors also recently modified their holdings of FR. Howard Capital Management Group LLC bought a new stake in shares of First Industrial Realty Trust in the third quarter worth about $206,000. Atria Investments Inc grew its stake in shares of First Industrial Realty Trust by 10.3% in the third quarter. Atria Investments Inc now owns 8,421 shares of the real estate investment trust’s stock worth $471,000 after purchasing an additional 783 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of First Industrial Realty Trust in the third quarter worth about $217,000. Natixis Advisors LLC grew its stake in shares of First Industrial Realty Trust by 12.3% in the third quarter. Natixis Advisors LLC now owns 25,497 shares of the real estate investment trust’s stock worth $1,427,000 after purchasing an additional 2,783 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in First Industrial Realty Trust by 0.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 169,078 shares of the real estate investment trust’s stock valued at $9,465,000 after acquiring an additional 481 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective on the stock. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Robert W. Baird lifted their price objective on 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, KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.31.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $55.10 on Thursday. First Industrial Realty Trust, Inc. has a twelve month low of $45.10 and a twelve month high of $58.17. The firm has a market cap of $7.29 billion, a P/E ratio of 25.27 and a beta of 1.07. The company has a 50 day moving average of $54.40 and a 200 day moving average of $53.84. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share 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%. As a group, research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently announced 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 of this dividend 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 3.23%. First Industrial Realty Trust’s payout ratio is currently 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.