Sterling Capital Management LLC lifted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 5.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 837,813 shares of the real estate investment trust’s stock after purchasing an additional 45,013 shares during the period. Sterling Capital Management LLC’s holdings in First Industrial Realty Trust were worth $27,933,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of First Industrial Realty Trust by 378.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 697,517 shares of the real estate investment trust’s stock worth $23,270,000 after acquiring an additional 551,590 shares in the last quarter. Amalgamated Bank boosted its stake in shares of First Industrial Realty Trust by 10.0% during the 2nd quarter. Amalgamated Bank now owns 18,641 shares of the real estate investment trust’s stock worth $621,000 after acquiring an additional 1,693 shares in the last quarter. Dupont Capital Management Corp boosted its stake in shares of First Industrial Realty Trust by 46.4% during the 2nd quarter. Dupont Capital Management Corp now owns 35,099 shares of the real estate investment trust’s stock worth $1,170,000 after acquiring an additional 11,123 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of First Industrial Realty Trust by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,102,838 shares of the real estate investment trust’s stock worth $119,926,000 after acquiring an additional 99,375 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of First Industrial Realty Trust by 48.0% during the 1st quarter. Allianz Asset Management GmbH now owns 623,674 shares of the real estate investment trust’s stock worth $18,230,000 after acquiring an additional 202,247 shares in the last quarter. 94.86% of the stock is currently owned by institutional investors and hedge funds.

FR has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of First Industrial Realty Trust from $30.00 to $34.00 and gave the stock an “underweight” rating in a research report on Friday, July 27th. Jefferies Financial Group downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. SunTrust Banks set a $35.00 price target on shares of First Industrial Realty Trust and gave the stock a “buy” rating in a research report on Tuesday, August 7th. ValuEngine downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, Zacks Investment Research downgraded shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. First Industrial Realty Trust has an average rating of “Hold” and a consensus price target of $33.71.

FR opened at $32.03 on Wednesday. First Industrial Realty Trust, Inc. has a twelve month low of $27.61 and a twelve month high of $34.04. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market cap of $4.03 billion, a P/E ratio of 20.40 and a beta of 0.72.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, July 25th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.19. First Industrial Realty Trust had a net margin of 55.66% and a return on equity of 14.81%. The firm had revenue of $98.85 million during the quarter, compared to the consensus estimate of $98.71 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. sell-side analysts expect that First Industrial Realty Trust, Inc. will post 1.59 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a dividend of $0.218 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.87 annualized dividend and a dividend yield of 2.72%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 55.41%.

In other First Industrial Realty Trust news, Director H Patrick Hackett, Jr. sold 15,000 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $31.93, for a total value of $478,950.00. Following the completion of the sale, the director now owns 52,577 shares in the company, valued at approximately $1,678,783.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce W. Duncan sold 30,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $32.52, for a total transaction of $975,600.00. Following the completion of the sale, the director now owns 612,564 shares of the company’s stock, valued at approximately $19,920,581.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,000 shares of company stock valued at $2,457,150. Insiders own 1.59% of the company’s stock.

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.

See Also: Market Capitalization – What it Means for Investors

Want to see what other hedge funds are holding FR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Industrial Realty Trust, Inc. (NYSE:FR).

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.