First Industrial Realty Trust, Inc. (NYSE:FR) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,532 shares of the real estate investment trust’s stock after selling 287 shares during the quarter. Cerity Partners LLC’s holdings in First Industrial Realty Trust were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in FR. Norges Bank acquired a new stake in First Industrial Realty Trust in the 4th quarter valued at about $90,489,000. JPMorgan Chase & Co. raised its holdings in shares of First Industrial Realty Trust by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after purchasing an additional 747,101 shares in the last quarter. Prudential Financial Inc. lifted its stake in First Industrial Realty Trust by 194.5% during the fourth quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust’s stock valued at $41,564,000 after purchasing an additional 523,429 shares during the last quarter. Vanguard Group Inc. boosted its holdings in First Industrial Realty Trust by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust’s stock worth $962,039,000 after buying an additional 304,589 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its position in First Industrial Realty Trust by 52.5% in the fourth quarter. ExodusPoint Capital Management LP now owns 429,066 shares of the real estate investment trust’s stock worth $21,509,000 after buying an additional 147,790 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on FR. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target for the company. Scotiabank cut 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 target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group dropped their target price on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday. One investment 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, First Industrial Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $57.15.

First Industrial Realty Trust Trading Up 2.1 %

First Industrial Realty Trust stock opened at $46.40 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The company’s fifty day simple moving average is $52.55 and its 200-day simple moving average is $52.63. The stock has a market cap of $6.14 billion, a P/E ratio of 21.28 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS 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 firm had revenue of $177.07 million during the quarter, compared to analysts’ expectations of $176.98 million. As a group, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a 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.