Norges Bank Takes Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Norges Bank bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,805,094 shares of the real estate investment trust’s stock, valued at approximately $90,489,000. Norges Bank owned about 1.36% of First Industrial Realty Trust as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc increased its position in First Industrial Realty Trust by 92.5% during the 4th quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 481 shares during the period. UMB Bank n.a. grew its stake in shares of First Industrial Realty Trust by 24.7% in the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 214 shares in the last quarter. Venturi Wealth Management LLC increased its position in First Industrial Realty Trust by 200.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 747 shares during the period. Blue Trust Inc. boosted its holdings in First Industrial Realty Trust by 30.7% in the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 292 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in First Industrial Realty Trust by 73.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 575 shares during the period. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $54.06 on Thursday. The company’s 50 day moving average price is $55.11 and its two-hundred day moving average price is $53.68. The firm has a market capitalization of $7.16 billion, a P/E ratio of 24.80 and a beta of 1.07. First Industrial Realty Trust, Inc. has a fifty-two week low of $45.10 and a fifty-two week high of $58.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a $0.445 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 annualized dividend and a dividend yield of 3.29%. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio is currently 81.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FR shares. Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target for the company. Robert W. Baird lifted their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Finally, The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their target price for the company from $52.00 to $59.00 in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $58.38.

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.