Centersquare Investment Management LLC Has $128.42 Million Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Key Points

• Centersquare Investment Management LLC reduced its stake in First Industrial Realty Trust by 11%, now owning approximately 2.38 million shares.
• Several institutional investors have significantly altered their holdings in First Industrial Realty Trust, with Bessemer Group Inc. increasing its stake by 93%.
• First Industrial Realty Trust reported $0.76 EPS for the last quarter, exceeding analysts' estimates, and its revenue increased by 9.8% year-over-year.

Centersquare Investment Management LLC cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,379,896 shares of the real estate investment trust's stock after selling 294,669 shares during the quarter. First Industrial Realty Trust makes up 1.3% of Centersquare Investment Management LLC's portfolio, making the stock its 26th largest position. Centersquare Investment Management LLC owned about 1.80% of First Industrial Realty Trust worth $128,419,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FR. Invesco Ltd. increased its holdings in First Industrial Realty Trust by 80.2% during the fourth quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock worth $214,401,000 after buying an additional 1,903,164 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of First Industrial Realty Trust in the 1st quarter valued at about $40,294,000. Deutsche Bank AG grew its position in shares of First Industrial Realty Trust by 56.1% in the 4th quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after acquiring an additional 675,306 shares during the period. Rush Island Management LP increased its stake in shares of First Industrial Realty Trust by 50.9% during the 4th quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock worth $82,240,000 after purchasing an additional 553,567 shares during the last quarter. Finally, Argosy Lionbridge Management LLC bought a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at about $26,447,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Performance

FR stock traded down $0.29 during trading hours on Friday, hitting $48.07. 606,095 shares of the stock were exchanged, compared to its average volume of 1,294,814. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $6.36 billion, a P/E ratio of 23.45 and a beta of 1.04. The company has a 50-day simple moving average of $49.20 and a two-hundred day simple moving average of $50.90.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.04. The business had revenue of $180.16 million for the quarter, compared to analyst estimates of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. First Industrial Realty Trust's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.66 earnings per share. On average, analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Royal Bank Of Canada reduced their target price on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group decreased their target price on 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. Barclays cut their price target on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Finally, Robert W. Baird decreased their price objective on shares of 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. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust has an average rating of "Hold" and an average target price of $55.91.

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.