Azzad Asset Management Inc. ADV Buys 405 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Azzad Asset Management Inc. ADV grew its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 7.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,177 shares of the real estate investment trust’s stock after buying an additional 405 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in First Industrial Realty Trust were worth $325,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in First Industrial Realty Trust during the 4th quarter worth approximately $78,559,000. Frontier Capital Management Co. LLC lifted its position in shares of First Industrial Realty Trust by 788.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after purchasing an additional 1,105,286 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in First Industrial Realty Trust by 23.6% during the fourth quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock worth $239,728,000 after purchasing an additional 869,676 shares during the last quarter. Lasalle Investment Management Securities LLC grew its position in First Industrial Realty Trust by 49.7% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 1,633,051 shares of the real estate investment trust’s stock valued at $86,013,000 after purchasing an additional 541,909 shares in the last quarter. Finally, Crestline Management LP acquired a new stake in First Industrial Realty Trust in the 4th quarter valued at $26,335,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FR. Robert W. Baird reduced their price objective on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Barclays reissued an “equal weight” rating and set a $53.00 price target (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Wedbush cut First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $59.00 to $49.00 in a research note on Thursday, April 25th. Scotiabank cut their price objective on First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating for the company in a report on Thursday, May 16th. Finally, BNP Paribas assumed coverage on shares of First Industrial Realty Trust in a report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.42.

First Industrial Realty Trust Stock Performance

Shares of FR traded up $0.15 during trading hours on Wednesday, hitting $47.63. The company had a trading volume of 139,721 shares, compared to its average volume of 1,053,025. The business has a fifty day moving average of $47.07 and a 200-day moving average of $50.48. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 21.88 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12 month low of $40.44 and a 12 month high of $55.22.

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.37 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.48 annualized dividend and a yield of 3.11%. First Industrial Realty Trust’s dividend payout ratio is currently 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.