Adage Capital Partners GP L.L.C. Sells 119,010 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Adage Capital Partners GP L.L.C. lessened its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 35.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,885 shares of the real estate investment trust's stock after selling 119,010 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.16% of First Industrial Realty Trust worth $10,672,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC bought a new position in shares of First Industrial Realty Trust during the third quarter valued at about $206,000. Barclays PLC grew its holdings in shares of First Industrial Realty Trust by 34.6% in the third quarter. Barclays PLC now owns 131,111 shares of the real estate investment trust's stock worth $7,341,000 after purchasing an additional 33,702 shares during the last quarter. Tidal Investments LLC raised its holdings in First Industrial Realty Trust by 20.1% during the 3rd quarter. Tidal Investments LLC now owns 82,537 shares of the real estate investment trust's stock valued at $4,620,000 after buying an additional 13,827 shares during the last quarter. Synovus Financial Corp boosted its position in First Industrial Realty Trust by 96.3% during the 3rd quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust's stock valued at $1,588,000 after buying an additional 13,922 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of First Industrial Realty Trust by 42.9% in the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock valued at $10,546,000 after acquiring an additional 58,088 shares during the period. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Up 1.9 %

NYSE:FR traded up $0.93 during trading hours on Friday, reaching $49.03. 985,906 shares of the company traded hands, compared to its average volume of 1,122,932. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The business's 50-day moving average price is $51.41 and its two-hundred day moving average price is $52.32. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17. The stock has a market capitalization of $6.49 billion, a P/E ratio of 22.49 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.02). The company 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%. Analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be issued a $0.445 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.63%. First Industrial Realty Trust's payout ratio is currently 88.12%.

Analysts Set New Price Targets

Several research firms recently issued reports on FR. The Goldman Sachs Group cut their target price on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a "hold" rating and a $52.00 target price for the company. Robert W. Baird boosted their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Scotiabank dropped their target price on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. reduced 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. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $57.08.

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.