First Industrial Realty Trust, Inc. $FR Shares Sold by LPL Financial LLC

LPL Financial LLC lowered its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,462 shares of the real estate investment trust’s stock after selling 1,359 shares during the period. LPL Financial LLC’s holdings in First Industrial Realty Trust were worth $2,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FR. Artemis Investment Management LLP acquired a new position in shares of First Industrial Realty Trust in the first quarter valued at approximately $40,294,000. Deutsche Bank AG raised its position in shares of First Industrial Realty Trust by 56.1% in the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust’s stock valued at $94,176,000 after buying an additional 675,306 shares during the last quarter. Rush Island Management LP raised its position in shares of First Industrial Realty Trust by 50.9% in the fourth quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust’s stock valued at $82,240,000 after buying an additional 553,567 shares during the last quarter. Argosy Lionbridge Management LLC acquired a new position in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $26,447,000. Finally, Northern Trust Corp raised its position in shares of First Industrial Realty Trust by 41.2% in the fourth quarter. Northern Trust Corp now owns 1,554,330 shares of the real estate investment trust’s stock valued at $77,919,000 after buying an additional 453,465 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FR. Scotiabank boosted their price objective on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. cut their price objective 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, April 28th. Barclays dropped their price target on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group dropped their price target on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.10.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock opened at $48.89 on Monday. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The firm has a fifty day moving average of $49.13 and a 200-day moving average of $50.70. The firm has a market capitalization of $6.47 billion, a P/E ratio of 23.85 and a beta of 1.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $180.16 million for the quarter, compared to analysts’ expectations of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 30th. First Industrial Realty Trust’s payout ratio is currently 86.83%.

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.