Raymond James & Associates acquired a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,699 shares of the real estate investment trust’s stock, valued at approximately $211,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Two Sigma Advisers LP raised its position in First Industrial Realty Trust by 84.7% in the 4th quarter. Two Sigma Advisers LP now owns 290,198 shares of the real estate investment trust’s stock valued at $9,133,000 after purchasing an additional 133,071 shares during the last quarter. Ellington Management Group LLC acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth $1,136,000. Teachers Insurance & Annuity Association of America grew its stake in shares of First Industrial Realty Trust by 10.3% during the 4th quarter. Teachers Insurance & Annuity Association of America now owns 130,114 shares of the real estate investment trust’s stock worth $4,095,000 after purchasing an additional 12,126 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth $719,000. Finally, Deutsche Bank AG grew its stake in First Industrial Realty Trust by 7.8% in the 4th quarter. Deutsche Bank AG now owns 527,003 shares of the real estate investment trust’s stock valued at $16,580,000 after acquiring an additional 38,232 shares during the last quarter. Institutional investors own 91.94% of the company’s stock.
Shares of First Industrial Realty Trust opened at $31.18 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.47 and a current ratio of 1.47. First Industrial Realty Trust, Inc. has a 1-year low of $31.24 and a 1-year high of $31.65. The stock has a market capitalization of $3.92 billion, a P/E ratio of 19.68 and a beta of 0.87.
First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.17. The business had revenue of $99.77 million during the quarter, compared to analyst estimates of $98.86 million. First Industrial Realty Trust had a return on equity of 15.01% and a net margin of 53.92%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. equities analysts forecast that First Industrial Realty Trust, Inc. will post 1.61 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be issued a $0.218 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.87 annualized dividend and a yield of 2.80%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 55.41%.
FR has been the topic of a number of recent research reports. Mizuho assumed coverage on shares of First Industrial Realty Trust in a report on Monday, March 26th. They issued a “neutral” rating and a $31.00 target price on the stock. Zacks Investment Research lowered shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Jefferies Group reaffirmed a “buy” rating and issued a $39.00 price objective on shares of First Industrial Realty Trust in a research report on Friday, February 23rd. ValuEngine downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Stifel Nicolaus reduced their price objective on First Industrial Realty Trust from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. First Industrial Realty Trust currently has a consensus rating of “Hold” and an average target price of $32.86.
In other news, CFO Scott A. Musil sold 16,300 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $30.31, for a total transaction of $494,053.00. Following the sale, the chief financial officer now directly owns 108,672 shares in the company, valued at $3,293,848.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce W. Duncan sold 16,900 shares of the company’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $32.24, for a total value of $544,856.00. Following the completion of the sale, the director now owns 841,180 shares in the company, valued at $27,119,643.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,140 shares of company stock valued at $2,167,011. Corporate insiders own 1.71% of the company’s stock.
First Industrial Realty Trust Company Profile
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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