Allstate Corp Raises Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Allstate Corp lifted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 52.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,197 shares of the real estate investment trust’s stock after acquiring an additional 29,491 shares during the quarter. Allstate Corp owned 0.07% of First Industrial Realty Trust worth $4,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of FR. Norges Bank acquired a new position in shares of First Industrial Realty Trust during the fourth quarter worth about $90,489,000. Rush Island Management LP purchased a new position in First Industrial Realty Trust in the third quarter worth approximately $60,848,000. JPMorgan Chase & Co. increased its position in shares of First Industrial Realty Trust by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after purchasing an additional 747,101 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of First Industrial Realty Trust by 290.6% in 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 purchasing an additional 665,920 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of First Industrial Realty Trust by 194.5% in the 4th quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust’s stock valued at $41,564,000 after purchasing an additional 523,429 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on FR shares. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Robert W. Baird increased 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 note 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 objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $58.38.

First Industrial Realty Trust Trading Down 1.2 %

NYSE FR opened at $53.60 on Friday. The firm’s fifty day moving average is $54.99 and its two-hundred day moving average is $53.74. First Industrial Realty Trust, Inc. has a one year low of $45.10 and a one year high of $58.17. 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 $7.10 billion, a PE ratio of 24.59 and a beta of 1.07.

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, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.32%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. 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.