Synovus Financial Corp Has $728,000 Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Synovus Financial Corp trimmed its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 48.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,518 shares of the real estate investment trust's stock after selling 13,856 shares during the period. Synovus Financial Corp's holdings in First Industrial Realty Trust were worth $728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC purchased a new stake in shares of First Industrial Realty Trust in the third quarter worth approximately $206,000. Stifel Financial Corp increased its stake in First Industrial Realty Trust by 1.1% in the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust's stock valued at $1,450,000 after buying an additional 278 shares during the period. Barclays PLC lifted its position in First Industrial Realty Trust by 34.6% in the 3rd quarter. Barclays PLC now owns 131,111 shares of the real estate investment trust's stock worth $7,341,000 after buying an additional 33,702 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of First Industrial Realty Trust by 60.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 9,463 shares of the real estate investment trust's stock valued at $509,000 after buying an additional 3,576 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of First Industrial Realty Trust by 20.1% during the 3rd quarter. Tidal Investments LLC now owns 82,537 shares of the real estate investment trust's stock valued at $4,620,000 after acquiring an additional 13,827 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FR. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price objective for the company. Barclays reiterated a "cautious" rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. Scotiabank dropped their price objective on First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. Robert W. Baird raised their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group decreased 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 report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $57.15.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR traded up $0.94 during trading hours on Tuesday, hitting $46.40. 1,405,154 shares of the stock were exchanged, compared to its average volume of 1,119,042. The firm has a market capitalization of $6.14 billion, a P/E ratio of 21.28 and a beta of 1.07. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The company's 50 day moving average is $52.55 and its 200 day moving average is $52.63.

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 earnings per share (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 the consensus estimate of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were issued a dividend of $0.445 per share. The ex-dividend date was Monday, March 31st. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.84%. First Industrial Realty Trust's payout ratio is 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.