Canada Pension Plan Investment Board Sells 10,000 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Canada Pension Plan Investment Board reduced its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,600 shares of the real estate investment trust's stock after selling 10,000 shares during the quarter. Canada Pension Plan Investment Board's holdings in First Industrial Realty Trust were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Synovus Financial Corp boosted its stake in First Industrial Realty Trust by 96.3% in 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 during the period. Franklin Resources Inc. lifted its stake in First Industrial Realty Trust by 42.9% in the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock worth $10,546,000 after purchasing an additional 58,088 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of First Industrial Realty Trust during the fourth quarter valued at about $1,463,000. Barclays PLC increased its holdings in shares of First Industrial Realty Trust by 109.7% in the fourth quarter. Barclays PLC now owns 274,968 shares of the real estate investment trust's stock worth $13,783,000 after purchasing an additional 143,857 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of First Industrial Realty Trust by 28.7% in the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock worth $187,798,000 after buying an additional 747,101 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Trading Up 0.0 %

FR traded up $0.01 during trading hours on Wednesday, reaching $47.59. 1,176,715 shares of the company's stock traded hands, compared to its average volume of 1,121,911. The firm has a 50-day moving average price of $51.57 and a 200 day moving average price of $52.37. The firm has a market capitalization of $6.30 billion, a PE ratio of 21.83 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. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its earnings results 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 company had revenue of $177.07 million for the quarter, compared to analysts' expectations of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.74%. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 88.12%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FR. Scotiabank decreased their price objective 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. Barclays lowered their price objective on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday. The Goldman Sachs Group reduced their target price on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird increased their price target 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, Royal Bank of Canada reduced their price objective on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $57.08.

First Industrial Realty Trust Company 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.