Third Avenue Management LLC decreased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 16.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,425,033 shares of the real estate investment trust’s stock after selling 279,989 shares during the period. First Industrial Realty Trust comprises approximately 2.5% of Third Avenue Management LLC’s holdings, making the stock its 14th largest position. Third Avenue Management LLC owned about 1.13% of First Industrial Realty Trust worth $44,747,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Assetmark Inc. bought a new position in First Industrial Realty Trust in the 2nd quarter worth $121,000. Qube Research & Technologies Ltd bought a new position in First Industrial Realty Trust in the 2nd quarter worth $164,000. Sumitomo Mitsui Asset Management Company LTD bought a new position in First Industrial Realty Trust in the 2nd quarter worth $201,000. Hartford Investment Management Co. bought a new position in First Industrial Realty Trust in the 2nd quarter worth $204,000. Finally, World Asset Management Inc bought a new position in First Industrial Realty Trust in the 2nd quarter worth $205,000. 92.66% of the stock is owned by hedge funds and other institutional investors.

FR stock opened at $31.77 on Tuesday. The firm has a market cap of $4.00 billion, a P/E ratio of 20.24 and a beta of 0.62. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.78. First Industrial Realty Trust, Inc. has a one year low of $27.61 and a one year high of $34.04.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.06. First Industrial Realty Trust had a net margin of 52.47% and a return on equity of 13.40%. The company had revenue of $100.26 million for the quarter, compared to analyst estimates of $99.74 million. Research analysts predict that First Industrial Realty Trust, Inc. will post 1.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Stockholders of record on Monday, December 31st will be paid a $0.2175 dividend. This represents a $0.87 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, December 28th. First Industrial Realty Trust’s dividend payout ratio is currently 55.41%.

Several brokerages have commented on FR. ValuEngine cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. SunTrust Banks set a $35.00 target price on shares of First Industrial Realty Trust and gave the company a “buy” rating in a research report on Tuesday, August 7th. Zacks Investment Research downgraded shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of First Industrial Realty Trust from $30.00 to $34.00 and gave the stock an “underweight” rating in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $33.67.

In other First Industrial Realty Trust news, Director H Patrick Hackett, Jr. sold 15,000 shares of First Industrial Realty Trust stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $31.38, for a total transaction of $470,700.00. Following the transaction, the director now directly owns 37,577 shares of the company’s stock, valued at $1,179,166.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.59% of the stock is owned by insiders.

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About First Industrial Realty Trust

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.

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

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