UBS Group AG Sells 111,996 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• UBS Group AG cut its stake in First Industrial Realty Trust by 16.5% in the fourth quarter, selling 111,996 shares and ending with 567,798 shares valued at about $32.5 million.
• First Industrial Realty Trust reported quarterly EPS of $0.59, missing analyst expectations of $0.76, while revenue came in slightly above estimates at $188.41 million and rose 7.3% year over year.
• The company announced a quarterly dividend of $0.50 per share, implying an annualized payout of $2.00 and a yield of 3.2%; analysts currently rate the stock a Moderate Buy with a consensus target price of $63.57.

UBS Group AG trimmed its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 16.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 567,798 shares of the real estate investment trust's stock after selling 111,996 shares during the period. UBS Group AG owned about 0.43% of First Industrial Realty Trust worth $32,518,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth $26,000. Danske Bank A S bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth $51,000. Fulcrum Asset Management LLP bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth $79,000. Advisory Services Network LLC bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth $97,000. Finally, Hantz Financial Services Inc. raised its stake in shares of First Industrial Realty Trust by 21.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,041 shares of the real estate investment trust's stock worth $105,000 after purchasing an additional 362 shares during the period. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Trading Up 0.6%

Shares of First Industrial Realty Trust stock opened at $62.77 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $8.32 billion, a P/E ratio of 24.33 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 52-week low of $47.36 and a 52-week high of $64.66. The stock's 50-day simple moving average is $60.75 and its 200 day simple moving average is $58.79.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). The company had revenue of $188.41 million for the quarter, compared to analysts' expectations of $186.20 million. First Industrial Realty Trust had a net margin of 45.98% and a return on equity of 12.36%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 EPS. As a group, research analysts anticipate that First Industrial Realty Trust, Inc. will post 3.15 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 30th. First Industrial Realty Trust's payout ratio is presently 77.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FR shares. Weiss Ratings upgraded First Industrial Realty Trust from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, April 27th. Barclays restated a "positive" rating and issued a $64.00 price objective on shares of First Industrial Realty Trust in a research note on Tuesday, January 13th. Scotiabank boosted their price objective on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a "sector perform" rating in a research note on Monday, March 2nd. Cantor Fitzgerald restated a "neutral" rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, April 27th. Finally, Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, First Industrial Realty Trust has a consensus rating of "Moderate Buy" and a consensus target price of $63.57.

First Industrial Realty Trust Profile

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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