Louisiana State Employees Retirement System Takes $2.22 Million Position in First Industrial Realty Trust, Inc. $FR

Louisiana State Employees Retirement System purchased a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,400 shares of the real estate investment trust’s stock, valued at approximately $2,221,000.

Several other large investors have also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at about $26,000. Parallel Advisors LLC raised its stake in shares of First Industrial Realty Trust by 86.9% during the fourth quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 291 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of First Industrial Realty Trust by 64.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 301 shares during the period. Danske Bank A S acquired a new stake in First Industrial Realty Trust in the third quarter worth approximately $51,000. Finally, Parkside Financial Bank & Trust boosted its stake in 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 purchasing an additional 262 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $63.26 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 24.52 and a beta of 1.06. The stock’s fifty day simple moving average is $62.35 and its 200 day simple moving average is $60.37. First Industrial Realty Trust, Inc. has a 52-week low of $47.36 and a 52-week high of $64.66.

First Industrial Realty Trust Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FR shares. Robert W. Baird upped their price objective on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Wells Fargo & Company lowered their target price on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Scotiabank boosted their price target on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Truist Financial boosted their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $63.93.

First Industrial Realty Trust Company Profile

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.