Park Avenue Securities LLC Sells 204 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Park Avenue Securities LLC trimmed its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 2.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,820 shares of the real estate investment trust’s stock after selling 204 shares during the period. Park Avenue Securities LLC’s holdings in First Industrial Realty Trust were worth $494,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centersquare Investment Management LLC grew its holdings in shares of First Industrial Realty Trust by 8.4% in the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after acquiring an additional 380,805 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in First Industrial Realty Trust in the 2nd quarter valued at $2,824,000. DekaBank Deutsche Girozentrale increased its position in shares of First Industrial Realty Trust by 32.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock valued at $4,567,000 after purchasing an additional 21,767 shares during the last quarter. Tidal Investments LLC raised its stake in shares of First Industrial Realty Trust by 29.6% during the 1st quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock worth $2,785,000 after purchasing an additional 12,097 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of First Industrial Realty Trust by 163.9% in the 1st quarter. National Bank of Canada FI now owns 475,000 shares of the real estate investment trust’s stock worth $24,956,000 after buying an additional 295,000 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FR shares. Wells Fargo & Company raised their price objective on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Royal Bank of Canada lifted their price target on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. The Goldman Sachs Group upped their price objective on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Scotiabank upped their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.92.

First Industrial Realty Trust Stock Up 1.4 %

FR stock opened at $54.53 on Friday. The stock has a 50-day simple moving average of $55.18 and a two-hundred day simple moving average of $51.10. First Industrial Realty Trust, Inc. has a twelve month low of $40.44 and a twelve month high of $57.35. The firm has a market capitalization of $7.22 billion, a PE ratio of 25.13 and a beta of 1.08. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The firm had revenue of $164.10 million for the quarter, compared to analysts’ expectations of $163.48 million. During the same period in the prior year, the firm posted $0.61 EPS. First Industrial Realty Trust’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts predict that First Industrial Realty Trust, Inc. will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is 68.20%.

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.