UBS Group AG Trims Position in First Industrial Realty Trust, Inc. $FR

UBS Group AG lessened its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 16.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 567,798 shares of the real estate investment trust’s stock after selling 111,996 shares during the quarter. UBS Group AG’s holdings in First Industrial Realty Trust were worth $32,518,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC purchased a new position in First Industrial Realty Trust during the 3rd quarter valued at about $26,000. Danske Bank A S purchased a new position in First Industrial Realty Trust during the 3rd quarter valued at about $51,000. Fulcrum Asset Management LLP purchased a new position in shares of First Industrial Realty Trust during the third quarter worth about $79,000. Advisory Services Network LLC purchased a new position in shares of First Industrial Realty Trust during the third quarter worth about $97,000. Finally, Hantz Financial Services Inc. grew its holdings in shares of First Industrial Realty Trust by 21.6% during the third quarter. Hantz Financial Services Inc. now owns 2,041 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FR. Citigroup boosted their price objective on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Scotiabank boosted their price objective on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Barclays reissued a “positive” rating and set a $64.00 price objective on shares of First Industrial Realty Trust in a report on Tuesday, January 13th. Finally, Royal Bank Of Canada boosted their price objective on First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.57.

First Industrial Realty Trust Stock Up 0.6%

Shares of NYSE FR opened at $62.77 on Friday. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 24.33 and a beta of 1.07. The business has a 50-day moving average of $60.75 and a 200-day moving average of $58.79. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. First Industrial Realty Trust, Inc. has a 12 month low of $47.36 and a 12 month high of $64.66.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.17). The firm had revenue of $188.41 million during the quarter, compared to analysts’ expectations of $186.20 million. First Industrial Realty Trust had a return on equity of 12.36% and a net margin of 45.98%.The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. Sell-side analysts expect that First Industrial Realty Trust, Inc. will post 3.15 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio is currently 77.52%.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.