Guggenheim Capital LLC Cuts Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Guggenheim Capital LLC decreased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 79.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,497 shares of the real estate investment trust's stock after selling 29,599 shares during the period. Guggenheim Capital LLC's holdings in First Industrial Realty Trust were worth $376,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock worth $214,401,000 after acquiring an additional 1,903,164 shares during the last quarter. Norges Bank purchased a new position in First Industrial Realty Trust in the 4th quarter worth $90,489,000. JPMorgan Chase & Co. lifted its stake in First Industrial Realty Trust by 28.7% in the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock worth $187,798,000 after purchasing an additional 747,101 shares during the last quarter. Prudential Financial Inc. boosted its position in First Industrial Realty Trust by 194.5% during the fourth quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust's stock valued at $41,564,000 after buying an additional 523,429 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of First Industrial Realty Trust by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust's stock valued at $962,039,000 after buying an additional 304,589 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FR shares. JPMorgan Chase & Co. dropped their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a report on Monday. Robert W. Baird raised 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 shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price target for the company. Scotiabank lowered their price objective 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 note on Monday, April 7th. Finally, The Goldman Sachs Group dropped their price objective on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $57.08.

First Industrial Realty Trust Stock Up 1.6 %

First Industrial Realty Trust stock traded up $0.79 on Friday, hitting $48.89. 173,954 shares of the stock traded hands, compared to its average volume of 1,119,780. The business's fifty day simple moving average is $51.41 and its 200 day simple moving average is $52.32. The firm has a market cap of $6.47 billion, a P/E ratio of 22.41 and a beta of 1.07. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The business had revenue of $177.07 million for the quarter, compared to analysts' expectations of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be paid a $0.445 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.64%. First Industrial Realty Trust's payout ratio is currently 88.12%.

First Industrial Realty Trust Company 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.