Bank of New York Mellon Corp Lowers Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Bank of New York Mellon Corp lowered its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,156,007 shares of the real estate investment trust's stock after selling 4,974 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.87% of First Industrial Realty Trust worth $57,951,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its stake in First Industrial Realty Trust by 2.3% in the fourth quarter. Handelsbanken Fonder AB now owns 39,774 shares of the real estate investment trust's stock valued at $1,994,000 after purchasing an additional 900 shares during the last quarter. Alberta Investment Management Corp lifted its position in shares of First Industrial Realty Trust by 2.9% during the 4th quarter. Alberta Investment Management Corp now owns 492,431 shares of the real estate investment trust's stock valued at $24,686,000 after buying an additional 14,041 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of First Industrial Realty Trust by 28.7% during the 4th quarter. Global Retirement Partners LLC now owns 4,392 shares of the real estate investment trust's stock worth $220,000 after acquiring an additional 979 shares during the period. Kestra Investment Management LLC bought a new position in shares of First Industrial Realty Trust during the 4th quarter worth $185,000. Finally, Venturi Wealth Management LLC increased its holdings in First Industrial Realty Trust by 200.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 747 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Trading Up 2.5 %

Shares of First Industrial Realty Trust stock traded up $1.42 during trading on Wednesday, hitting $58.06. The stock had a trading volume of 2,616,521 shares, compared to its average volume of 1,117,386. First Industrial Realty Trust, Inc. has a 12 month low of $45.10 and a 12 month high of $58.16. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The firm's fifty day simple moving average is $53.09 and its 200-day simple moving average is $53.80. The stock has a market cap of $7.69 billion, a PE ratio of 26.63 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.07%. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust's dividend payout ratio (DPR) is 81.65%.

Analyst Ratings Changes

A number of brokerages have weighed in on FR. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and increased their target price for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a "hold" rating and a $52.00 target price for the company. Robert W. Baird boosted their price target on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Barclays lowered their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Monday, November 18th. Finally, KeyCorp upgraded shares of First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.31.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc NYSE: FR is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.