Dockside LLC Acquires New Position in First Industrial Realty Trust, Inc. $FR

Dockside LLC acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 47,827 shares of the real estate investment trust’s stock, valued at approximately $2,739,000.

Other hedge funds also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in shares of First Industrial Realty Trust by 86.9% during the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 291 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of First Industrial Realty Trust by 64.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 301 shares during the period. Danske Bank A S bought a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at approximately $51,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of First Industrial Realty Trust by 27.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 262 shares during the period. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Stock Up 1.1%

NYSE FR opened at $63.49 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $8.42 billion, a P/E ratio of 24.61 and a beta of 1.05. First Industrial Realty Trust, Inc. has a one year low of $47.36 and a one year high of $64.66. The stock has a 50 day moving average price of $61.77 and a 200-day moving average price of $59.91.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio is currently 77.52%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FR. KeyCorp reiterated a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Scotiabank boosted their price objective on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Robert W. Baird upped their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings upgraded First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $63.93.

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.