Parametric Portfolio Associates LLC decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 238,430 shares of the real estate investment trust’s stock after selling 3,966 shares during the period. Parametric Portfolio Associates LLC owned 0.20% of First Industrial Realty Trust worth $6,349,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in First Industrial Realty Trust during the fourth quarter worth about $10,038,000. Comerica Bank increased its stake in shares of First Industrial Realty Trust by 6.4% in the fourth quarter. Comerica Bank now owns 85,749 shares of the real estate investment trust’s stock valued at $2,362,000 after buying an additional 5,125 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of First Industrial Realty Trust by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,547,073 shares of the real estate investment trust’s stock valued at $43,395,000 after buying an additional 9,661 shares during the period. Elkfork Partners LLC purchased a new stake in shares of First Industrial Realty Trust during the fourth quarter valued at $141,000. Finally, Credit Agricole S A increased its stake in shares of First Industrial Realty Trust by 38.7% in the fourth quarter. Credit Agricole S A now owns 82,227 shares of the real estate investment trust’s stock valued at $2,307,000 after buying an additional 22,961 shares during the period. Hedge funds and other institutional investors own 93.67% of the company’s stock.
Shares of First Industrial Realty Trust, Inc. (FR) opened at 29.59 on Friday. First Industrial Realty Trust, Inc. has a 12 month low of $24.85 and a 12 month high of $30.17. The stock has a 50 day moving average of $28.74 and a 200 day moving average of $27.51. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 27.05 and a beta of 1.00.
First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.01. The business had revenue of $97.38 million during the quarter, compared to analyst estimates of $97.31 million. First Industrial Realty Trust had a net margin of 33.58% and a return on equity of 10.10%. First Industrial Realty Trust’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. On average, equities research analysts expect that First Industrial Realty Trust, Inc. will post $0.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.84%. First Industrial Realty Trust’s payout ratio is 77.06%.
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A number of research analysts have issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $29.00 price target on shares of First Industrial Realty Trust in a report on Monday, April 24th. Zacks Investment Research raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, May 2nd. Stifel Nicolaus raised their target price on shares of First Industrial Realty Trust from $30.00 to $31.50 and gave the stock a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets reissued a “hold” rating and set a $28.00 target price on shares of First Industrial Realty Trust in a report on Wednesday, March 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.70.
In related news, insider Johannson L. Yap sold 18,000 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $28.18, for a total value of $507,240.00. Following the sale, the insider now directly owns 296,002 shares of the company’s stock, valued at approximately $8,341,336.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bruce W. Duncan sold 17,156 shares of the stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $27.84, for a total transaction of $477,623.04. Following the completion of the sale, the director now directly owns 995,316 shares in the company, valued at $27,709,597.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,313 shares of company stock worth $1,460,284. 1.83% of the stock is owned by corporate insiders.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.
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