Hsbc Holdings PLC Purchases 60,907 Shares of First Industrial Realty Trust, Inc. $FR

Hsbc Holdings PLC increased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 27.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 279,355 shares of the real estate investment trust’s stock after buying an additional 60,907 shares during the period. Hsbc Holdings PLC’s holdings in First Industrial Realty Trust were worth $16,160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FR. Money Concepts Capital Corp lifted its position in First Industrial Realty Trust by 5.1% during the 1st quarter. Money Concepts Capital Corp now owns 20,050 shares of the real estate investment trust’s stock worth $1,160,000 after acquiring an additional 978 shares during the last quarter. Azzad Asset Management Inc. ADV grew its position in shares of First Industrial Realty Trust by 3.3% in the first quarter. Azzad Asset Management Inc. ADV now owns 8,669 shares of the real estate investment trust’s stock valued at $502,000 after purchasing an additional 274 shares during the last quarter. Resona Asset Management Co. Ltd. grew its position in shares of First Industrial Realty Trust by 6.1% in the first quarter. Resona Asset Management Co. Ltd. now owns 58,965 shares of the real estate investment trust’s stock valued at $3,379,000 after purchasing an additional 3,397 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of First Industrial Realty Trust by 2.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 27,183 shares of the real estate investment trust’s stock worth $1,573,000 after purchasing an additional 700 shares during the period. Finally, Bank of Stockton lifted its position in shares of First Industrial Realty Trust by 21.5% during the 1st quarter. Bank of Stockton now owns 26,205 shares of the real estate investment trust’s stock worth $1,516,000 after purchasing an additional 4,637 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Down 1.0%

Shares of FR opened at $67.76 on Thursday. The company has a 50-day simple moving average of $63.24 and a 200-day simple moving average of $61.21. The firm has a market capitalization of $8.98 billion, a P/E ratio of 26.26 and a beta of 1.05. 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 52 week low of $47.38 and a 52 week high of $69.88.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Tuesday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is currently 77.52%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FR shares. KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 price target on shares of First Industrial Realty Trust in a research report on Monday, April 27th. 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 report on Tuesday, April 28th. Truist Financial increased their price objective on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.29.

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.