First Industrial Realty Trust, Inc. (NYSE:FR) Position Lessened by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. decreased its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 4.9% during the 4th quarter, HoldingsChannel reports. The firm owned 20,097 shares of the real estate investment trust’s stock after selling 1,028 shares during the period. Bahl & Gaynor Inc.’s holdings in First Industrial Realty Trust were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. CWM LLC raised its stake in First Industrial Realty Trust by 31.9% during the 4th quarter. CWM LLC now owns 1,613 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 390 shares in the last quarter. Covestor Ltd raised its stake in First Industrial Realty Trust by 14.0% during the 3rd quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 241 shares in the last quarter. International Assets Investment Management LLC bought a new stake in First Industrial Realty Trust during the 4th quarter valued at $153,000. Trust Point Inc. bought a new stake in First Industrial Realty Trust during the 4th quarter valued at $204,000. Finally, DAVENPORT & Co LLC bought a new stake in First Industrial Realty Trust during the 4th quarter valued at $209,000. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on FR shares. TheStreet raised First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Barclays reaffirmed an “equal weight” rating and set a $53.00 target price (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Truist Financial upped their price target on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group upped their price target on First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. Finally, Wedbush lowered First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $59.00 to $49.00 in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Hold” and an average target price of $53.11.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $46.00 on Friday. The firm has a market cap of $6.09 billion, a P/E ratio of 21.20 and a beta of 1.01. The stock’s 50-day moving average is $51.55 and its two-hundred day moving average is $49.86. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $55.22. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.06.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Wednesday, March 27th. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s dividend payout ratio is 68.20%.

First Industrial Realty Trust 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.