Two Sigma Investments LP Cuts Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Two Sigma Investments LP trimmed its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 65.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,953 shares of the real estate investment trust's stock after selling 113,579 shares during the quarter. Two Sigma Investments LP's holdings in First Industrial Realty Trust were worth $3,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of First Industrial Realty Trust by 1.6% during 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 acquiring an additional 304,589 shares during the last quarter. Invesco Ltd. boosted its position in shares of First Industrial Realty Trust by 80.2% during the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock valued at $214,401,000 after acquiring an additional 1,903,164 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of First Industrial Realty Trust by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust's stock valued at $124,492,000 after acquiring an additional 14,298 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of First Industrial Realty Trust by 5.7% during 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 position 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 during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird lowered their target price on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Scotiabank increased 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 report on Monday, May 12th. Wells Fargo & Company lowered their target price on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Royal Bank of Canada lowered their price target 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. Finally, Barclays lowered 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 research report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, First Industrial Realty Trust currently has an average rating of "Moderate Buy" and an average target price of $56.00.

First Industrial Realty Trust Trading Down 1.2%

FR stock traded down $0.60 during midday trading on Wednesday, reaching $48.76. The company's stock had a trading volume of 1,645,399 shares, compared to its average volume of 1,153,178. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a fifty day simple moving average of $48.45 and a two-hundred day simple moving average of $51.64. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 22.37 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The business had revenue of $177.07 million during the quarter, compared to analysts' expectations of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. On average, equities research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.445 per share. The ex-dividend date is Monday, June 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.65%. First Industrial Realty Trust's dividend payout ratio is currently 88.12%.

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.