Sovran Advisors LLC Sells 5,975 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Sovran Advisors LLC reduced its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 47.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,660 shares of the real estate investment trust's stock after selling 5,975 shares during the quarter. Sovran Advisors LLC's holdings in First Industrial Realty Trust were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of First Industrial Realty Trust by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust's stock valued at $962,039,000 after purchasing an additional 304,589 shares in the last quarter. Invesco Ltd. increased its holdings in shares of 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of First Industrial Realty Trust by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust's stock worth $124,492,000 after buying an additional 14,298 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of First Industrial Realty Trust by 5.7% in the 4th quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust's stock valued at $121,922,000 after acquiring an additional 130,819 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of First Industrial Realty Trust by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust's stock valued at $110,581,000 after acquiring an additional 23,280 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Down 0.5%

FR stock traded down $0.26 during trading on Thursday, reaching $49.14. 592,948 shares of the stock were exchanged, compared to its average volume of 1,194,986. The firm's 50 day moving average is $49.19 and its 200 day moving average is $51.13. The firm has a market cap of $6.51 billion, a P/E ratio of 24.32 and a beta of 1.07. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87. 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 released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 39.04% and a return on equity of 9.82%. The firm had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. As a group, research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current 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 issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 annualized dividend and a yield of 3.62%. First Industrial Realty Trust's payout ratio is 88.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. 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. Wall Street Zen cut First Industrial Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. Barclays lowered their price target on shares of 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. JPMorgan Chase & Co. dropped their price target on shares of 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, Royal Bank Of Canada reduced their price objective on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of "Hold" and a consensus target price of $55.91.

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.