Lasalle Investment Management Securities LLC Decreases Stake in First Industrial Realty Trust, Inc. $FR

Key Points

• Lasalle Investment Management Securities LLC cut its stake in First Industrial Realty Trust by 99.6% in the first quarter, selling 784,605 shares and leaving it with 3,159 shares worth about $183,000.
• The company recently paid a quarterly dividend of $0.50 per share, equal to a $2.00 annualized payout and a 3.0% yield; its dividend payout ratio is 77.52%.
• Analysts currently have a Moderate Buy consensus on FR, with an average price target of $64.29, while the stock recently traded at $67.76 and sits near its 52-week high.

Lasalle Investment Management Securities LLC lessened its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 99.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,159 shares of the real estate investment trust's stock after selling 784,605 shares during the quarter. Lasalle Investment Management Securities LLC's holdings in First Industrial Realty Trust were worth $183,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Measured Wealth Private Client Group LLC purchased a new stake in First Industrial Realty Trust during the third quarter worth approximately $26,000. Parallel Advisors LLC raised its stake in shares of First Industrial Realty Trust by 86.9% in the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 291 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of First Industrial Realty Trust by 64.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 301 shares during the period. Danske Bank A S acquired a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at $51,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of First Industrial Realty Trust by 27.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $67.76 on Thursday. The company has a market capitalization of $8.98 billion, a PE ratio of 26.26 and a beta of 1.05. The firm has a fifty day simple moving average of $63.24 and a 200-day simple moving average of $61.21. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. First Industrial Realty Trust, Inc. has a twelve month low of $47.38 and a twelve month high of $69.88.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.0%. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 77.52%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, April 11th. Wells Fargo & Company reduced their price objective on First Industrial Realty Trust from $63.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Monday, June 1st. Raymond James Financial reaffirmed a "strong-buy" rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Barclays increased their target price on First Industrial Realty Trust from $64.00 to $69.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded First Industrial Realty Trust from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.29.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc NYSE: FR is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants' supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.

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