Daiwa Securities Group Inc. Lowers Stock Position in First Industrial Realty Trust, Inc. $FR

Daiwa Securities Group Inc. lessened its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 19.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,663 shares of the real estate investment trust’s stock after selling 64,811 shares during the quarter. Daiwa Securities Group Inc.’s holdings in First Industrial Realty Trust were worth $15,329,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in First Industrial Realty Trust during the third quarter worth about $26,000. Danske Bank A S purchased a new position in First Industrial Realty Trust during the third quarter worth about $51,000. Fulcrum Asset Management LLP purchased a new position in First Industrial Realty Trust during the third quarter worth about $79,000. Fifth Third Bancorp boosted its stake in First Industrial Realty Trust by 16.0% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 242 shares during the period. Finally, Advisory Services Network LLC purchased a new position in First Industrial Realty Trust during the third quarter worth about $97,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FR. Citigroup increased their target price on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Royal Bank Of Canada raised their price objective on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Weiss Ratings raised shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Finally, Truist Financial raised their price objective on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and an average target price of $63.93.

First Industrial Realty Trust Trading Down 0.2%

NYSE FR opened at $61.54 on Friday. The firm has a 50 day simple moving average of $61.31 and a 200-day simple moving average of $59.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust, Inc. has a one year low of $47.36 and a one year high of $64.66. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 23.85 and a beta of 1.05.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 77.52%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.