Ameriprise Financial Inc. Sells 32,556 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Ameriprise Financial Inc. lowered its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,821,675 shares of the real estate investment trust's stock after selling 32,556 shares during the quarter. Ameriprise Financial Inc. owned about 1.38% of First Industrial Realty Trust worth $89,708,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in shares of First Industrial Realty Trust by 42.9% in the 3rd 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 in the last quarter. Proficio Capital Partners LLC acquired a new stake in First Industrial Realty Trust in the 4th quarter valued at about $1,463,000. Barclays PLC lifted its stake in First Industrial Realty Trust by 109.7% in the 4th quarter. Barclays PLC now owns 274,968 shares of the real estate investment trust's stock valued at $13,783,000 after purchasing an additional 143,857 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in First Industrial Realty Trust by 13.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust's stock worth $142,000 after acquiring an additional 331 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in First Industrial Realty Trust by 6.2% during the fourth quarter. Victory Capital Management Inc. now owns 698,710 shares of the real estate investment trust's stock worth $35,026,000 after acquiring an additional 40,734 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FR. 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 for the company in a research report on Tuesday, April 22nd. Barclays cut 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. Scotiabank lifted their price target on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a research report on Monday. JPMorgan Chase & Co. dropped their price target on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Robert W. Baird dropped their price target on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, First Industrial Realty Trust has a consensus rating of "Moderate Buy" and a consensus price target of $56.58.

First Industrial Realty Trust Price Performance

NYSE:FR traded down $0.43 during mid-day trading on Tuesday, reaching $50.88. The stock had a trading volume of 1,054,478 shares, compared to its average volume of 1,308,297. The stock has a 50-day simple moving average of $50.34 and a two-hundred day simple moving average of $52.02. The stock has a market capitalization of $6.74 billion, a PE ratio of 23.34 and a beta of 1.08. 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 12 month low of $40.31 and a 12 month high of $58.17.

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 company had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. On average, equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.50%. First Industrial Realty Trust's dividend payout ratio is currently 88.12%.

About First Industrial Realty Trust

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.