OVERSEA CHINESE BANKING Corp Ltd Invests $2.47 Million in First Industrial Realty Trust, Inc. (NYSE:FR)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 49,279 shares of the real estate investment trust’s stock, valued at approximately $2,470,000.

A number of other large investors have also recently made changes to their positions in FR. Howard Capital Management Group LLC bought a new position in shares of First Industrial Realty Trust in the third quarter worth $206,000. Atria Investments Inc boosted its holdings in shares of First Industrial Realty Trust by 10.3% in the third quarter. Atria Investments Inc now owns 8,421 shares of the real estate investment trust’s stock worth $471,000 after acquiring an additional 783 shares during the period. CIBC Asset Management Inc bought a new position in shares of First Industrial Realty Trust in the third quarter worth $217,000. Natixis Advisors LLC boosted its holdings in shares of First Industrial Realty Trust by 12.3% in the third quarter. Natixis Advisors LLC now owns 25,497 shares of the real estate investment trust’s stock worth $1,427,000 after acquiring an additional 2,783 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in First Industrial Realty Trust by 0.3% during the third quarter. Thrivent Financial for Lutherans now owns 169,078 shares of the real estate investment trust’s stock valued at $9,465,000 after buying an additional 481 shares during the period. 99.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. 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 research note on Wednesday, February 19th. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $52.00 to $59.00 in a research note on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.31.

First Industrial Realty Trust Trading Down 0.1 %

NYSE FR opened at $55.10 on Thursday. The company has a market capitalization of $7.29 billion, a price-to-earnings ratio of 25.27 and a beta of 1.07. The stock’s 50-day simple moving average is $54.40 and its two-hundred day simple moving average is $53.84. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a twelve month low of $45.10 and a twelve month high of $58.17.

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

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a $0.445 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.78 annualized dividend and a dividend yield of 3.23%. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s payout ratio is currently 81.65%.

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.