First Industrial Realty Trust, Inc. (FR) Position Trimmed by Rhumbline Advisers

Rhumbline Advisers trimmed its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,558 shares of the real estate investment trust’s stock after selling 20,061 shares during the period. Rhumbline Advisers owned approximately 0.24% of First Industrial Realty Trust worth $8,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citadel Advisors LLC boosted its stake in First Industrial Realty Trust by 149.8% during the 4th quarter. Citadel Advisors LLC now owns 1,188,022 shares of the real estate investment trust’s stock valued at $37,387,000 after acquiring an additional 712,517 shares during the last quarter. Swiss National Bank boosted its stake in First Industrial Realty Trust by 4.5% during the 4th quarter. Swiss National Bank now owns 204,100 shares of the real estate investment trust’s stock valued at $6,423,000 after acquiring an additional 8,800 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in First Industrial Realty Trust by 25.1% during the 4th quarter. Meadow Creek Investment Management LLC now owns 17,782 shares of the real estate investment trust’s stock valued at $560,000 after acquiring an additional 3,570 shares during the last quarter. BlackRock Inc. boosted its stake in First Industrial Realty Trust by 9.8% during the 4th quarter. BlackRock Inc. now owns 18,349,221 shares of the real estate investment trust’s stock valued at $577,449,000 after acquiring an additional 1,645,026 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in First Industrial Realty Trust by 7.8% during 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. 91.94% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust stock opened at $31.18 on Friday. 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 PE ratio of 19.68 and a beta of 0.87.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.17. First Industrial Realty Trust had a net margin of 53.92% and a return on equity of 15.01%. The company had revenue of $99.77 million for the quarter, compared to the consensus estimate of $98.86 million. During the same period last year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. research analysts expect that First Industrial Realty Trust, Inc. will post 1.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be given a $0.218 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 2.80%. First Industrial Realty Trust’s payout ratio is currently 55.41%.

In related news, Director Bruce W. Duncan sold 16,900 shares of the stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $32.24, for a total value of $544,856.00. Following the sale, the director now owns 841,180 shares of the company’s stock, valued at approximately $27,119,643.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Scott A. Musil sold 16,300 shares of the stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $30.31, for a total transaction of $494,053.00. Following the completion of the sale, the chief financial officer now directly owns 108,672 shares in the company, valued at approximately $3,293,848.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,140 shares of company stock worth $2,167,011. Insiders own 1.71% of the company’s stock.

A number of research firms have commented on FR. ValuEngine downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday. Mizuho upgraded shares of First Industrial Realty Trust from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Monday, May 7th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, April 27th. SunTrust Banks set a $32.00 price objective on shares of First Industrial Realty Trust and gave the company a “buy” rating in a research note on Friday, March 2nd. Finally, Stifel Nicolaus reduced their price target on shares of First Industrial Realty Trust from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $32.86.

First Industrial Realty Trust 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.

Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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