Northwestern Mutual Wealth Management Co. Buys 9,784,830 Shares of First Industrial Realty Trust, Inc. $FR

Northwestern Mutual Wealth Management Co. raised its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 856,065.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,785,973 shares of the real estate investment trust’s stock after acquiring an additional 9,784,830 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 7.39% of First Industrial Realty Trust worth $560,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its stake in First Industrial Realty Trust by 0.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 2,143,459 shares of the real estate investment trust’s stock valued at $122,756,000 after acquiring an additional 8,569 shares during the period. Money Concepts Capital Corp lifted its stake in shares of First Industrial Realty Trust by 2.8% in the 4th quarter. Money Concepts Capital Corp now owns 19,072 shares of the real estate investment trust’s stock worth $1,092,000 after purchasing an additional 524 shares during the period. Bailard Inc. lifted its stake in shares of First Industrial Realty Trust by 240.6% in the 4th quarter. Bailard Inc. now owns 19,800 shares of the real estate investment trust’s stock worth $1,134,000 after purchasing an additional 13,986 shares during the period. Swiss Life Asset Management Ltd lifted its stake in shares of First Industrial Realty Trust by 65.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 10,013 shares of the real estate investment trust’s stock worth $573,000 after purchasing an additional 3,972 shares during the period. Finally, NewEdge Wealth LLC bought a new position in shares of First Industrial Realty Trust in the 4th quarter worth approximately $203,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FR shares. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Truist Financial increased their price objective on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday. Scotiabank increased their price objective on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.64.

First Industrial Realty Trust Price Performance

NYSE FR opened at $60.81 on Friday. First Industrial Realty Trust, Inc. has a 12 month low of $47.36 and a 12 month high of $64.66. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 23.57 and a beta of 1.07. The company’s 50 day moving average is $60.63 and its two-hundred day moving average is $59.02. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 77.52%.

First Industrial Realty Trust 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.