Victory Capital Management Inc. Acquires 40,734 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Victory Capital Management Inc. grew its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 698,710 shares of the real estate investment trust’s stock after purchasing an additional 40,734 shares during the period. Victory Capital Management Inc. owned about 0.53% of First Industrial Realty Trust worth $35,026,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rush Island Management LP purchased a new position in shares of First Industrial Realty Trust in the 3rd quarter worth $60,848,000. JPMorgan Chase & Co. boosted its stake 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 worth $187,798,000 after buying an additional 747,101 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 worth $50,105,000 after buying an additional 665,920 shares during the last quarter. Zimmer Partners LP purchased a new position in shares of First Industrial Realty Trust in the 3rd quarter worth $18,649,000. Finally, NFJ Investment Group LLC purchased a new position in shares of First Industrial Realty Trust in the 3rd quarter worth $7,778,000. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $57.51 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The business’s 50-day simple moving average is $53.51 and its two-hundred day simple moving average is $53.87. The stock has a market cap of $7.61 billion, a PE ratio of 26.38 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 52 week low of $45.10 and a 52 week high of $58.17.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.10%. This is a boost 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 payout ratio is 81.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their target price for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Barclays lowered their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Finally, Robert W. Baird lifted their target price 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. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.31.

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.