Smithfield Trust Co. cut its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 12.5% during the second quarter, Holdings Channel reports. The fund owned 15,246 shares of the real estate investment trust’s stock after selling 2,175 shares during the period. Smithfield Trust Co.’s holdings in First Industrial Realty Trust were worth $436,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FR. Daiwa Securities Group Inc. raised its stake in shares of First Industrial Realty Trust by 30.9% in the first quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 2,100 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of First Industrial Realty Trust by 1,347.8% in the first quarter. Prudential Financial Inc. now owns 1,305,419 shares of the real estate investment trust’s stock worth $34,764,000 after buying an additional 1,215,251 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of First Industrial Realty Trust by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 6,732 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 612 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of First Industrial Realty Trust by 146.3% in the first quarter. SG Americas Securities LLC now owns 20,486 shares of the real estate investment trust’s stock worth $546,000 after buying an additional 12,167 shares during the last quarter. Finally, Stephens Inc. AR raised its stake in shares of First Industrial Realty Trust by 1.6% in the first quarter. Stephens Inc. AR now owns 111,513 shares of the real estate investment trust’s stock worth $2,970,000 after buying an additional 1,808 shares during the last quarter. 91.19% of the stock is owned by institutional investors.

First Industrial Realty Trust, Inc. (FR) opened at 30.40 on Friday. First Industrial Realty Trust, Inc. has a 12 month low of $24.85 and a 12 month high of $31.14. The firm’s 50-day moving average price is $29.28 and its 200 day moving average price is $27.89. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 30.96 and a beta of 1.00.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.18. First Industrial Realty Trust had a return on equity of 8.88% and a net margin of 29.91%. The business had revenue of $97.60 million during the quarter, compared to analysts’ expectations of $97.62 million. During the same period in the prior year, the business earned $0.36 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts anticipate that First Industrial Realty Trust, Inc. will post $0.85 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, September 28th. First Industrial Realty Trust’s dividend payout ratio is 85.71%.

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FR has been the subject of a number of research analyst reports. Zacks Investment Research lowered First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Jefferies Group LLC reissued a “hold” rating and set a $30.00 price objective (up previously from $29.00) on shares of First Industrial Realty Trust in a research report on Sunday, June 25th. Stifel Nicolaus reissued a “buy” rating and set a $33.00 price objective on shares of First Industrial Realty Trust in a research report on Friday, July 28th. Finally, BidaskClub raised First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. First Industrial Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $30.20.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 17,157 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $27.71, for a total value of $475,420.47. Following the completion of the sale, the director now directly owns 978,159 shares in the company, valued at approximately $27,104,785.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Schultz sold 12,132 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $30.43, for a total value of $369,176.76. Following the completion of the sale, the executive vice president now owns 109,399 shares of the company’s stock, valued at $3,329,011.57. The disclosure for this sale can be found here. Insiders sold a total of 64,435 shares of company stock valued at $1,883,385 over the last quarter. Company insiders own 1.83% of the company’s stock.

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

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