First Industrial Realty Trust (NYSE:FR) Trading Down 4%

First Industrial Realty Trust, Inc. (NYSE:FR)’s share price traded down 4% during mid-day trading on Thursday . The stock traded as low as $46.59 and last traded at $46.66. 550,270 shares were traded during mid-day trading, a decline of 52% from the average session volume of 1,150,818 shares. The stock had previously closed at $48.60.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. TheStreet raised First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. The Goldman Sachs Group raised their price target on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, January 11th. Mizuho reaffirmed a “buy” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Finally, Barclays reaffirmed an “equal weight” rating and issued a $53.00 price target (down previously from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, First Industrial Realty Trust has an average rating of “Hold” and a consensus target price of $55.30.

First Industrial Realty Trust Trading Down 5.2 %

The firm has a market cap of $6.10 billion, a PE ratio of 22.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50-day simple moving average of $52.69 and a two-hundred day simple moving average of $49.91.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.21%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, March 27th. First Industrial Realty Trust’s dividend payout ratio is currently 71.50%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FR. Nomura Holdings Inc. boosted its stake in First Industrial Realty Trust by 192.7% in the 1st quarter. Nomura Holdings Inc. now owns 3,088,269 shares of the real estate investment trust’s stock worth $164,296,000 after purchasing an additional 2,033,000 shares during the period. Norges Bank bought a new position in shares of First Industrial Realty Trust during the 4th quarter valued at approximately $78,559,000. JPMorgan Chase & Co. boosted its position in shares of First Industrial Realty Trust by 92.2% during the 1st quarter. JPMorgan Chase & Co. now owns 2,799,425 shares of the real estate investment trust’s stock valued at $148,929,000 after acquiring an additional 1,342,783 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of First Industrial Realty Trust by 469.3% during the 2nd quarter. Alliancebernstein L.P. now owns 1,576,944 shares of the real estate investment trust’s stock valued at $83,010,000 after acquiring an additional 1,299,944 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in shares of First Industrial Realty Trust by 788.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock valued at $65,598,000 after acquiring an additional 1,105,286 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

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.