Ellington Management Group LLC purchased a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,100 shares of the real estate investment trust’s stock, valued at approximately $1,136,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. purchased a new stake in First Industrial Realty Trust during the 3rd quarter worth about $213,000. Lourd Capital LLC purchased a new stake in First Industrial Realty Trust during the 4th quarter worth about $244,000. OppenheimerFunds Inc. purchased a new stake in First Industrial Realty Trust during the 4th quarter worth about $246,000. HRT Financial LLC purchased a new stake in First Industrial Realty Trust during the 4th quarter worth about $318,000. Finally, Clarus Wealth Advisors purchased a new stake in First Industrial Realty Trust during the 4th quarter worth about $370,000. Institutional investors own 94.10% of the company’s stock.
Several equities research analysts have weighed in on FR shares. JPMorgan Chase & Co. downgraded First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 price target on the stock. in a report on Friday, December 15th. Zacks Investment Research downgraded First Industrial Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Robert W. Baird restated a “hold” rating and set a $31.00 price target on shares of First Industrial Realty Trust in a report on Tuesday, January 9th. Jefferies Group restated a “buy” rating and set a $39.00 price target on shares of First Industrial Realty Trust in a report on Friday, February 23rd. Finally, Stifel Nicolaus dropped their price objective on First Industrial Realty Trust from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $32.43.
First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. First Industrial Realty Trust had a return on equity of 14.57% and a net margin of 50.82%. The business had revenue of $102.31 million for the quarter, compared to the consensus estimate of $100.11 million. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 1.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be paid a dividend of $0.218 per share. This represents a $0.87 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.21. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 50.00%.
In related news, CIO Johannson L. Yap sold 6,600 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $28.54, for a total transaction of $188,364.00. Following the transaction, the executive now owns 292,033 shares in the company, valued at approximately $8,334,621.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.71% of the company’s stock.
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About First Industrial Realty Trust
First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.
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