Adelante Capital Management LLC Sells 43,079 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Adelante Capital Management LLC trimmed its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,443 shares of the real estate investment trust's stock after selling 43,079 shares during the quarter. Adelante Capital Management LLC owned 0.18% of First Industrial Realty Trust worth $12,254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FR. AQR Capital Management LLC boosted its stake in shares of First Industrial Realty Trust by 25.3% in the 4th quarter. AQR Capital Management LLC now owns 109,648 shares of the real estate investment trust's stock valued at $5,493,000 after purchasing an additional 22,142 shares in the last quarter. Northern Trust Corp raised its position in shares of First Industrial Realty Trust by 41.2% during the fourth quarter. Northern Trust Corp now owns 1,554,330 shares of the real estate investment trust's stock worth $77,919,000 after acquiring an additional 453,465 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of First Industrial Realty Trust by 7.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 949,185 shares of the real estate investment trust's stock valued at $47,583,000 after acquiring an additional 68,103 shares during the period. Landmark Investment Partners L.P. bought a new position in First Industrial Realty Trust in the fourth quarter valued at about $16,478,000. Finally, Boothbay Fund Management LLC increased its position in First Industrial Realty Trust by 92.6% in the fourth quarter. Boothbay Fund Management LLC now owns 15,947 shares of the real estate investment trust's stock worth $799,000 after purchasing an additional 7,668 shares during the period. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Down 0.2 %

Shares of NYSE FR traded down $0.12 during mid-day trading on Monday, reaching $48.91. 114,630 shares of the company's stock were exchanged, compared to its average volume of 1,118,651. 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 has a fifty day simple moving average of $51.26 and a 200 day simple moving average of $52.24. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 22.46 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its 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). The company had revenue of $177.07 million for the quarter, compared to analyst estimates of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, equities analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

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 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 dividend yield of 3.64%. First Industrial Realty Trust's dividend payout ratio (DPR) is 88.12%.

Wall Street Analyst Weigh In

FR has been the topic of a number of research reports. Barclays cut their target price 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. The Goldman Sachs Group cut their price objective on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird lifted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a "hold" rating and a $52.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective 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. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, First Industrial Realty Trust presently has a consensus rating of "Moderate Buy" and an average target price 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.