EdgeRock Capital LLC Invests $56,000 in First Industrial Realty Trust, Inc. (NYSE:FR)

EdgeRock Capital LLC acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,069 shares of the real estate investment trust’s stock, valued at approximately $56,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its position in shares of First Industrial Realty Trust by 6.2% during the third quarter. Commonwealth Equity Services LLC now owns 74,187 shares of the real estate investment trust’s stock worth $3,531,000 after purchasing an additional 4,362 shares in the last quarter. Raymond James & Associates increased its position in shares of First Industrial Realty Trust by 8.0% during the third quarter. Raymond James & Associates now owns 18,098 shares of the real estate investment trust’s stock worth $861,000 after purchasing an additional 1,344 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of First Industrial Realty Trust by 9.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,536 shares of the real estate investment trust’s stock worth $3,452,000 after purchasing an additional 6,203 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of First Industrial Realty Trust during the third quarter worth $326,000. Finally, Strs Ohio increased its position in shares of First Industrial Realty Trust by 35.8% during the third quarter. Strs Ohio now owns 297,470 shares of the real estate investment trust’s stock worth $14,156,000 after purchasing an additional 78,369 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of FR stock traded down $0.02 during mid-day trading on Wednesday, hitting $47.38. 601,381 shares of the stock were exchanged, compared to its average volume of 1,157,287. The firm has a fifty day moving average of $50.37 and a 200 day moving average of $50.01. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust, Inc. has a 52-week low of $40.44 and a 52-week high of $55.22. The company has a market cap of $6.27 billion, a PE ratio of 21.83 and a beta of 1.05.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, June 28th. First Industrial Realty Trust’s payout ratio is currently 68.20%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FR. TheStreet raised First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Robert W. Baird cut their target price on First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Wedbush downgraded First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and cut their target price for the company from $59.00 to $49.00 in a research report on Thursday, April 25th. JPMorgan Chase & Co. cut their target price on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada upped their target price on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.40.

First Industrial Realty Trust Company Profile

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.