First Industrial Realty Trust, Inc. (NYSE:FR) Shares Acquired by Rush Island Management LP

Rush Island Management LP increased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 50.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,640,530 shares of the real estate investment trust's stock after purchasing an additional 553,567 shares during the period. First Industrial Realty Trust makes up approximately 5.5% of Rush Island Management LP's investment portfolio, making the stock its 10th largest holding. Rush Island Management LP owned about 1.24% of First Industrial Realty Trust worth $82,240,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. CIBC Asset Management Inc increased its holdings in shares of First Industrial Realty Trust by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust's stock worth $205,000 after acquiring an additional 210 shares in the last quarter. UMB Bank n.a. increased its holdings 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 acquiring an additional 214 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of 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 worth $1,309,000 after acquiring an additional 222 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of 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 worth $158,000 after acquiring an additional 269 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of First Industrial Realty Trust by 30.7% in the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 292 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Up 1.0%

Shares of NYSE:FR opened at $50.90 on Friday. The company's 50-day moving average price is $49.96 and its two-hundred day moving average price is $51.98. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The stock has a market capitalization of $6.74 billion, a PE ratio of 23.35 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results 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 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. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be given a dividend of $0.445 per share. The ex-dividend date is Monday, June 30th. This represents a $1.78 annualized dividend and a yield of 3.50%. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 88.12%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FR shares. Scotiabank increased their price target on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a report on Monday. Barclays cut their price objective on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Royal Bank of Canada cut 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 report on Tuesday, April 29th. JPMorgan Chase & Co. cut their price objective 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, Robert W. Baird cut their price objective on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.58.

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.

Want to see what other hedge funds are holding FR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Industrial Realty Trust, Inc. (NYSE:FR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.