Ameriprise Financial Inc. cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,227,409 shares of the real estate investment trust’s stock after selling 372,457 shares during the period. Ameriprise Financial Inc. owned approximately 1.86% of First Industrial Realty Trust worth $63,749,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of FR. IFP Advisors Inc lifted its stake in First Industrial Realty Trust by 5.2% in the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 190 shares during the last quarter. First Mercantile Trust Co. lifted its stake in First Industrial Realty Trust by 1.8% in the second quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 70 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in First Industrial Realty Trust by 77.8% in the second quarter. Riverhead Capital Management LLC now owns 6,224 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 2,724 shares during the last quarter. Meadow Creek Investment Management LLC lifted its stake in 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 purchasing an additional 612 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First Industrial Realty Trust by 4.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,342 shares of the real estate investment trust’s stock worth $196,000 after purchasing an additional 327 shares during the last quarter. 92.07% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on FR. KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a research note on Friday, August 25th. Stifel Nicolaus restated a “buy” rating and issued a $31.50 price objective on shares of First Industrial Realty Trust in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC restated a “hold” rating and issued a $32.00 price objective (up previously from $30.00) on shares of First Industrial Realty Trust in a research report on Thursday, August 24th. Finally, BidaskClub upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.60.

First Industrial Realty Trust, Inc. (FR) opened at 31.48 on Wednesday. The stock has a market cap of $3.77 billion, a PE ratio of 32.06 and a beta of 1.00. First Industrial Realty Trust, Inc. has a 52-week low of $24.85 and a 52-week high of $31.83. The firm has a 50 day moving average of $30.65 and a 200-day moving average of $28.86.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.18. The firm had revenue of $97.60 million during the quarter, compared to analyst estimates of $97.62 million. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.36 EPS. Equities analysts anticipate that First Industrial Realty Trust, Inc. will post $0.82 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $0.21 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.84 annualized dividend and a dividend yield of 2.67%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 85.71%.

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In related news, Director Bruce W. Duncan sold 16,855 shares of First Industrial Realty Trust stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $31.50, for a total transaction of $530,932.50. Following the completion of the sale, the director now owns 917,530 shares in the company, valued at approximately $28,902,195. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce W. Duncan sold 15,146 shares of First Industrial Realty Trust stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $28.68, for a total transaction of $434,387.28. Following the sale, the director now owns 949,531 shares of the company’s stock, valued at approximately $27,232,549.08. The disclosure for this sale can be found here. Insiders sold a total of 99,279 shares of company stock valued at $3,004,548 in the last 90 days. 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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