291,741 Shares in First Industrial Realty Trust, Inc. (NYSE:FR) Purchased by Waterfront Capital Partners LLC

Waterfront Capital Partners LLC bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 291,741 shares of the real estate investment trust's stock, valued at approximately $14,625,000. First Industrial Realty Trust makes up about 2.7% of Waterfront Capital Partners LLC's portfolio, making the stock its 19th largest holding. Waterfront Capital Partners LLC owned about 0.22% of First Industrial Realty Trust as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FR. Vanguard Group Inc. increased its stake in First Industrial Realty Trust by 1.6% in the 4th 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 period. Invesco Ltd. increased its stake in shares of First Industrial Realty Trust by 80.2% in the fourth 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. JPMorgan Chase & Co. raised its holdings in shares of 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 worth $187,798,000 after acquiring an additional 747,101 shares in the last quarter. Geode Capital Management LLC boosted its position in First Industrial Realty Trust by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust's stock valued at $124,492,000 after purchasing an additional 14,298 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in First Industrial Realty Trust by 5.7% during the fourth quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust's stock valued at $121,922,000 after purchasing an additional 130,819 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Trading Down 1.0 %

NYSE:FR traded down $0.48 during trading hours on Wednesday, hitting $47.10. 344,746 shares of the stock were exchanged, compared to its average volume of 1,119,203. The company's 50 day moving average is $51.73 and its two-hundred day moving average is $52.40. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $6.24 billion, a P/E ratio of 21.61 and a beta of 1.07. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly 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 net margin of 42.94% and a return on equity of 10.64%. The company had revenue of $177.07 million during the quarter, compared to analyst estimates of $176.98 million. On average, sell-side analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a $0.445 dividend. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.78 annualized dividend and a yield of 3.78%. First Industrial Realty Trust's payout ratio is presently 88.12%.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price 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. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a "hold" rating and a $52.00 price target for the company. Barclays cut their price objective on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday. 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 report on Monday, April 7th. Finally, The Goldman Sachs Group decreased 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 report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.