Bank of New York Mellon Corp Lowers Stock Holdings in First Industrial Realty Trust, Inc. $FR

Bank of New York Mellon Corp reduced its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 1.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,065,985 shares of the real estate investment trust’s stock after selling 10,362 shares during the quarter. Bank of New York Mellon Corp owned about 0.80% of First Industrial Realty Trust worth $61,667,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. M&T Bank Corp purchased a new stake in First Industrial Realty Trust in the 4th quarter worth approximately $1,134,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of First Industrial Realty Trust by 7.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 209,488 shares of the real estate investment trust’s stock valued at $11,997,000 after purchasing an additional 14,693 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of First Industrial Realty Trust by 121.2% in the fourth quarter. SG Americas Securities LLC now owns 183,530 shares of the real estate investment trust’s stock worth $10,511,000 after purchasing an additional 100,551 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of First Industrial Realty Trust by 4.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 959,917 shares of the real estate investment trust’s stock worth $54,974,000 after purchasing an additional 44,678 shares during the period. Finally, Artemis Investment Management LLP raised its position in shares of First Industrial Realty Trust by 8.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,154,879 shares of the real estate investment trust’s stock worth $66,140,000 after buying an additional 92,984 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Down 1.0%

Shares of NYSE:FR opened at $67.76 on Thursday. The firm has a market capitalization of $8.98 billion, a PE ratio of 26.26 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust, Inc. has a 52-week low of $47.38 and a 52-week high of $69.88. The firm has a fifty day moving average of $63.24 and a 200 day moving average of $61.21.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.0%. First Industrial Realty Trust’s dividend payout ratio is 77.52%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FR. Raymond James Financial reissued a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. Robert W. Baird raised their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Cantor Fitzgerald reiterated a “neutral” rating and set a $65.00 price target on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Finally, Wells Fargo & Company cut their price objective on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.29.

First Industrial Realty Trust Company 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.