Lazard Asset Management LLC Acquires 4,990 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Lazard Asset Management LLC raised its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 44.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,119 shares of the real estate investment trust's stock after purchasing an additional 4,990 shares during the period. Lazard Asset Management LLC's holdings in First Industrial Realty Trust were worth $808,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of First Industrial Realty Trust by 24.7% during the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 214 shares during the period. Venturi Wealth Management LLC increased its stake in First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 747 shares in the last quarter. Blue Trust Inc. raised its holdings in First Industrial Realty Trust by 30.7% during the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust's stock worth $62,000 after buying an additional 292 shares during the period. Smartleaf Asset Management LLC raised its holdings in First Industrial Realty Trust by 73.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust's stock worth $68,000 after buying an additional 575 shares during the period. Finally, FIL Ltd lifted its stake in First Industrial Realty Trust by 32.8% in the fourth quarter. FIL Ltd now owns 1,449 shares of the real estate investment trust's stock valued at $73,000 after buying an additional 358 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Down 0.7%

Shares of NYSE:FR traded down $0.35 during midday trading on Monday, hitting $48.13. The stock had a trading volume of 897,056 shares, compared to its average volume of 1,139,362. The company has a market cap of $6.37 billion, a P/E ratio of 22.08 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The business's 50-day simple moving average is $49.13 and its 200-day simple moving average is $51.80. 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 (NYSE:FR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The firm had revenue of $177.07 million during the quarter, compared to the consensus estimate of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be paid a $0.445 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 annualized dividend and a yield of 3.70%. First Industrial Realty Trust's dividend payout ratio is 88.12%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FR. Barclays dropped their price objective on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Robert W. Baird cut their price target on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Royal Bank of Canada reduced 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, April 29th. JPMorgan Chase & Co. dropped their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, Scotiabank boosted their target price on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of "Moderate Buy" and an average price target of $56.00.

About First Industrial Realty Trust

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.