Bank of Montreal Can Sells 6,705 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Bank of Montreal Can lowered its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,020 shares of the real estate investment trust's stock after selling 6,705 shares during the quarter. Bank of Montreal Can owned 0.06% of First Industrial Realty Trust worth $3,911,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Synovus Financial Corp increased its holdings in First Industrial Realty Trust by 96.3% during the 3rd quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust's stock worth $1,588,000 after purchasing an additional 13,922 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of First Industrial Realty Trust by 42.9% during the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock worth $10,546,000 after buying an additional 58,088 shares during the period. Proficio Capital Partners LLC bought a new position in shares of First Industrial Realty Trust during the fourth quarter worth about $1,463,000. JPMorgan Chase & Co. raised its position in First Industrial Realty Trust by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock valued at $187,798,000 after buying an additional 747,101 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in First Industrial Realty Trust by 13.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust's stock valued at $142,000 after acquiring an additional 331 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR traded down $2.12 during mid-day trading on Monday, reaching $45.43. 2,285,620 shares of the company were exchanged, compared to its average volume of 1,117,605. The stock has a market capitalization of $6.01 billion, a P/E ratio of 20.84 and a beta of 1.07. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The company's 50-day simple moving average is $52.74 and its 200-day simple moving average is $52.68. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The firm had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. First Industrial Realty Trust's payout ratio is presently 88.12%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Barclays reaffirmed a "cautious" rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a "hold" rating and a $52.00 price objective for the company. Finally, Scotiabank dropped their target price on 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 analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $57.77.

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.