Short Interest in First Industrial Realty Trust, Inc. (NYSE:FR) Expands By 47.1%

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 3,060,000 shares, an increase of 47.1% from the March 31st total of 2,080,000 shares. Based on an average daily volume of 1,450,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.3% of the shares of the stock are short sold.

First Industrial Realty Trust Stock Up 1.4 %

Shares of FR traded up $0.66 during mid-day trading on Wednesday, reaching $49.23. The company had a trading volume of 185,313 shares, compared to its average volume of 1,122,640. The company has a market capitalization of $6.52 billion, a price-to-earnings ratio of 22.53 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. First Industrial Realty Trust has a 52 week low of $40.31 and a 52 week high of $58.17. The firm has a 50-day moving average price of $50.93 and a 200 day moving average price of $52.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The firm had revenue of $177.07 million for 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%. On average, sell-side analysts forecast that First Industrial Realty Trust will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust's payout ratio is 88.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Synovus Financial Corp increased 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 worth $1,588,000 after purchasing an additional 13,922 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of First Industrial Realty Trust by 42.9% during 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 purchasing an additional 58,088 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in First Industrial Realty Trust during the 4th quarter valued at about $1,463,000. Barclays PLC raised its stake in First Industrial Realty Trust by 109.7% during the 4th quarter. Barclays PLC now owns 274,968 shares of the real estate investment trust's stock valued at $13,783,000 after acquiring an additional 143,857 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock valued at $187,798,000 after purchasing an additional 747,101 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FR. Deutsche Bank Aktiengesellschaft started 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 objective for the company. Scotiabank dropped their price target on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Monday, April 7th. The Goldman Sachs Group reduced their target price on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird decreased their price objective on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research report on Tuesday. Finally, Barclays cut their price target 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. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $56.50.

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.