Bailard Inc. Acquires 13,986 Shares of First Industrial Realty Trust, Inc. $FR

Bailard Inc. raised its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 240.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,800 shares of the real estate investment trust’s stock after acquiring an additional 13,986 shares during the quarter. Bailard Inc.’s holdings in First Industrial Realty Trust were worth $1,134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FR. Crossmark Global Holdings Inc. boosted its position in shares of First Industrial Realty Trust by 1.9% during the third quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock worth $492,000 after purchasing an additional 179 shares in the last quarter. AlphaQuest LLC increased its stake in First Industrial Realty Trust by 0.5% in the 3rd quarter. AlphaQuest LLC now owns 41,416 shares of the real estate investment trust’s stock valued at $2,132,000 after buying an additional 193 shares during the last quarter. Assetmark Inc. increased its stake in First Industrial Realty Trust by 7.1% in the 3rd quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 198 shares during the last quarter. Quadrant Capital Group LLC increased its stake in First Industrial Realty Trust by 2.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock valued at $554,000 after buying an additional 211 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of First Industrial Realty Trust by 0.6% during the 3rd quarter. Intech Investment Management LLC now owns 40,807 shares of the real estate investment trust’s stock worth $2,100,000 after purchasing an additional 237 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $61.86 on Thursday. 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 company has a market capitalization of $8.20 billion, a P/E ratio of 23.98 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12-month low of $47.36 and a 12-month high of $64.66. The firm has a 50-day moving average price of $60.69 and a two-hundred day moving average price of $58.97.

First Industrial Realty Trust Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. 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 lifted their target price on shares of First Industrial Realty Trust from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Robert W. Baird lifted their target price on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Citigroup lifted their target price on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Finally, Scotiabank lifted their target price on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.57.

About First Industrial Realty Trust

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.