First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by Adelante Capital Management LLC

Adelante Capital Management LLC trimmed its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 15.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244,443 shares of the real estate investment trust’s stock after selling 43,079 shares during the period. Adelante Capital Management LLC owned about 0.18% of First Industrial Realty Trust worth $12,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of First Industrial Realty Trust by 25.3% in the fourth quarter. AQR Capital Management LLC now owns 109,648 shares of the real estate investment trust’s stock valued at $5,493,000 after acquiring an additional 22,142 shares in the last quarter. Northern Trust Corp raised its position in First Industrial Realty Trust by 41.2% in the fourth quarter. Northern Trust Corp now owns 1,554,330 shares of the real estate investment trust’s stock valued at $77,919,000 after purchasing an additional 453,465 shares during the period. The Manufacturers Life Insurance Company raised its position in First Industrial Realty Trust by 7.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 949,185 shares of the real estate investment trust’s stock valued at $47,583,000 after purchasing an additional 68,103 shares during the period. Landmark Investment Partners L.P. purchased a new stake in First Industrial Realty Trust in the fourth quarter valued at $16,478,000. Finally, Boothbay Fund Management LLC raised its position in First Industrial Realty Trust by 92.6% in the fourth quarter. Boothbay Fund Management LLC now owns 15,947 shares of the real estate investment trust’s stock valued at $799,000 after purchasing an additional 7,668 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Down 0.3 %

FR stock opened at $47.59 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17. The company’s 50 day moving average is $51.73 and its two-hundred day moving average is $52.40. The stock has a market cap of $6.30 billion, a P/E ratio of 21.83 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. The company had revenue of $177.07 million for the quarter, compared to analyst estimates of $176.98 million. Research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued a dividend of $0.445 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a yield of 3.74%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 88.12%.

Analysts Set New Price Targets

FR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective for the company. Royal Bank of Canada lowered their price objective on First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday. Robert W. Baird raised their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Scotiabank reduced their target price on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, First Industrial Realty Trust has an average rating of “Hold” and a consensus target price of $57.42.

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.