Cohen & Steers Inc. Purchases New Shares in First Industrial Realty Trust, Inc. $FR

Cohen & Steers Inc. purchased a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,066,795 shares of the real estate investment trust’s stock, valued at approximately $118,365,000. Cohen & Steers Inc. owned about 1.56% of First Industrial Realty Trust as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FR. Crossmark Global Holdings Inc. boosted its holdings in First Industrial Realty Trust by 1.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock valued at $492,000 after acquiring an additional 179 shares during the period. Assetmark Inc. boosted its holdings in First Industrial Realty Trust by 7.1% during the 3rd quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock valued at $154,000 after acquiring an additional 198 shares during the period. Quadrant Capital Group LLC boosted its holdings in First Industrial Realty Trust by 2.0% during 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 acquiring an additional 211 shares during the period. Intech Investment Management LLC boosted its holdings in 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 valued at $2,100,000 after acquiring an additional 237 shares during the period. Finally, Signaturefd LLC boosted its holdings in First Industrial Realty Trust by 9.4% during the 4th quarter. Signaturefd LLC now owns 2,809 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 242 shares during the period. 99.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Scotiabank upped their price target on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Truist Financial upped their price target on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Robert W. Baird upped their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.93.

First Industrial Realty Trust Stock Up 1.1%

Shares of NYSE:FR opened at $63.49 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $47.36 and a 52-week high of $64.66. The firm has a market capitalization of $8.42 billion, a P/E ratio of 24.61 and a beta of 1.05. The stock has a 50 day moving average price of $61.77 and a 200-day moving average price of $59.91. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04.

First Industrial Realty Trust Dividend Announcement

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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 77.52%.

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.