Zimmer Partners LP Has $2.51 Million Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Zimmer Partners LP lowered its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 85.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,000 shares of the real estate investment trust's stock after selling 283,136 shares during the quarter. Zimmer Partners LP's holdings in First Industrial Realty Trust were worth $2,506,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FR. CIBC Asset Management Inc raised its holdings in First Industrial Realty Trust by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust's stock valued at $205,000 after acquiring an additional 210 shares in the last quarter. UMB Bank n.a. increased its position in shares of First Industrial Realty Trust by 24.7% in the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock worth $54,000 after purchasing an additional 214 shares during the period. Stifel Financial Corp raised its stake in First Industrial Realty Trust by 0.9% in the fourth quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust's stock valued at $1,309,000 after purchasing an additional 222 shares in the last quarter. Principal Securities Inc. raised its stake in First Industrial Realty Trust by 9.3% in the fourth quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust's stock valued at $158,000 after purchasing an additional 269 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in First Industrial Realty Trust by 30.7% during the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 292 shares during the period. Institutional investors own 99.85% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on FR shares. Barclays lowered their price objective on shares of 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. Wells Fargo & Company lowered their price target on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. JPMorgan Chase & Co. lowered their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Royal Bank of Canada dropped their target price on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Finally, Robert W. Baird decreased their price target 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.

First Industrial Realty Trust Trading Down 0.7%

Shares of NYSE:FR traded down $0.35 during midday trading on Monday, hitting $48.13. 897,056 shares of the stock were exchanged, compared to its average volume of 1,139,362. The business's 50-day moving average price is $49.27 and its 200 day moving average price is $51.83. 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 debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 22.08 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted 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). First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. The business had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. Analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.70%. First Industrial Realty Trust's payout ratio is currently 88.12%.

First Industrial Realty Trust 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.