BNP Paribas Arbitrage SA trimmed its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 4.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,510 shares of the real estate investment trust’s stock after selling 3,797 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.08% of First Industrial Realty Trust worth $2,754,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of FR. Balyasny Asset Management LLC raised its holdings in shares of First Industrial Realty Trust by 421.7% in the second quarter. Balyasny Asset Management LLC now owns 1,135,241 shares of the real estate investment trust’s stock worth $32,491,000 after buying an additional 917,632 shares during the period. Rothschild Asset Management Inc. purchased a new position in First Industrial Realty Trust during the 2nd quarter worth $19,235,000. Renaissance Technologies LLC increased its holdings in First Industrial Realty Trust by 1,008.5% during the 2nd quarter. Renaissance Technologies LLC now owns 588,800 shares of the real estate investment trust’s stock worth $16,851,000 after purchasing an additional 535,685 shares during the period. Prudential Financial Inc. increased its holdings in First Industrial Realty Trust by 17.3% during the 2nd quarter. Prudential Financial Inc. now owns 1,531,040 shares of the real estate investment trust’s stock worth $43,818,000 after purchasing an additional 225,621 shares during the period. Finally, Castle Ridge Investment Management LP purchased a new position in First Industrial Realty Trust during the 2nd quarter worth $6,317,000. Hedge funds and other institutional investors own 93.64% of the company’s stock.
In other news, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $30.85, for a total value of $519,976.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 50,565 shares of company stock valued at $1,585,718. Insiders own 1.71% of the company’s stock.
FR has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “neutral” rating on shares of First Industrial Realty Trust in a report on Tuesday, September 26th. ValuEngine upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $34.00 price objective on shares of First Industrial Realty Trust in a research report on Friday, November 10th. Stifel Nicolaus raised their price objective on First Industrial Realty Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Finally, KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a research report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. First Industrial Realty Trust currently has an average rating of “Buy” and an average target price of $31.67.
Shares of First Industrial Realty Trust, Inc. (NYSE:FR) opened at $32.22 on Tuesday. First Industrial Realty Trust, Inc. has a 52-week low of $25.31 and a 52-week high of $32.47. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $3,850.00, a PE ratio of 20.86 and a beta of 1.02.
First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 12.90% and a net margin of 44.97%. The company had revenue of $99.30 million during the quarter, compared to analysts’ expectations of $98.38 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. equities analysts forecast that First Industrial Realty Trust, Inc. will post 1.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.84 annualized dividend and a dividend yield of 2.61%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 78.50%.
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First Industrial Realty Trust Profile
First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.
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