First Industrial Realty Trust, Inc. (FR) Shares Bought by Crestline Management LP

Crestline Management LP grew its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,922 shares of the real estate investment trust’s stock after acquiring an additional 5,166 shares during the quarter. First Industrial Realty Trust makes up approximately 0.5% of Crestline Management LP’s holdings, making the stock its 25th largest position. Crestline Management LP owned 0.10% of First Industrial Realty Trust worth $3,548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FR. We Are One Seven LLC bought a new position in First Industrial Realty Trust during the 4th quarter worth $38,000. Oregon Public Employees Retirement Fund grew its stake in First Industrial Realty Trust by 2,786.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,431,889 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,382,274 shares during the last quarter. Loeb Partners Corp bought a new position in First Industrial Realty Trust during the 4th quarter worth $58,000. PNC Financial Services Group Inc. grew its stake in First Industrial Realty Trust by 9.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,220 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 530 shares during the last quarter. Finally, GWM Advisors LLC bought a new position in First Industrial Realty Trust during the 4th quarter worth $229,000. Institutional investors and hedge funds own 91.74% of the company’s stock.

In other news, insider Johannson L. Yap sold 15,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $34.02, for a total value of $510,300.00. Following the completion of the transaction, the insider now owns 109,159 shares of the company’s stock, valued at $3,713,589.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Scott A. Musil sold 13,000 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $33.90, for a total value of $440,700.00. Following the completion of the transaction, the chief financial officer now directly owns 110,989 shares of the company’s stock, valued at approximately $3,762,527.10. The disclosure for this sale can be found here. Corporate insiders own 1.59% of the company’s stock.

A number of research analysts recently commented on FR shares. Zacks Investment Research upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Monday, January 28th. Mizuho restated a “buy” rating and set a $38.00 price objective on shares of First Industrial Realty Trust in a research note on Wednesday, February 20th. BMO Capital Markets restated an “average” rating and set a $8.50 price objective on shares of First Industrial Realty Trust in a research note on Monday, December 17th. JPMorgan Chase & Co. upgraded First Industrial Realty Trust from an “underweight” rating to a “neutral” rating in a research note on Wednesday, December 19th. Finally, SunTrust Banks restated a “buy” rating and set a $36.00 price objective on shares of First Industrial Realty Trust in a research note on Wednesday, February 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. First Industrial Realty Trust presently has a consensus rating of “Buy” and a consensus price target of $30.90.

Shares of FR opened at $34.89 on Friday. The firm has a market cap of $4.42 billion, a P/E ratio of 21.81, a P/E/G ratio of 3.40 and a beta of 0.76. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.77. First Industrial Realty Trust, Inc. has a 12 month low of $27.30 and a 12 month high of $35.08.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, February 13th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. First Industrial Realty Trust had a return on equity of 10.07% and a net margin of 40.41%. The company had revenue of $105.08 million during the quarter, compared to analysts’ expectations of $103.07 million. During the same quarter in the prior year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 1.7 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.23 dividend. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, March 28th. This represents a $0.92 annualized dividend and a dividend yield of 2.64%. First Industrial Realty Trust’s dividend payout ratio is presently 54.38%.

COPYRIGHT VIOLATION NOTICE: This story was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2019/03/17/first-industrial-realty-trust-inc-fr-shares-bought-by-crestline-management-lp.html.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

Receive News & Ratings for First Industrial Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply