Centersquare Investment Management LLC Trims Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Centersquare Investment Management LLC trimmed its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 43.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,674,565 shares of the real estate investment trust's stock after selling 2,044,775 shares during the quarter. First Industrial Realty Trust comprises 1.4% of Centersquare Investment Management LLC's investment portfolio, making the stock its 25th biggest position. Centersquare Investment Management LLC owned 2.02% of First Industrial Realty Trust worth $134,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of First Industrial Realty Trust by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust's stock valued at $962,039,000 after acquiring an additional 304,589 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock valued at $187,798,000 after acquiring an additional 747,101 shares during the period. Geode Capital Management LLC boosted its stake in shares of First Industrial Realty Trust by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust's stock valued at $124,492,000 after purchasing an additional 14,298 shares during the period. Alliancebernstein L.P. lifted its holdings in First Industrial Realty Trust by 5.7% during the 4th quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust's stock worth $121,922,000 after buying an additional 130,819 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in First Industrial Realty Trust by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust's stock valued at $110,581,000 after buying an additional 23,280 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on FR shares. KeyCorp upgraded First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a report on Tuesday, December 17th. Robert W. Baird boosted their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Scotiabank cut their price target on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating on the stock in a research note on Monday. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and upped their price objective for the company from $52.00 to $59.00 in a research note on Friday, February 21st. Finally, Barclays reiterated a "cautious" rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, First Industrial Realty Trust currently has an average rating of "Hold" and an average price target of $57.77.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR traded down $0.95 during midday trading on Wednesday, hitting $42.13. The stock had a trading volume of 641,756 shares, compared to its average volume of 1,096,539. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $5.58 billion, a PE ratio of 19.33 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 1 year low of $40.38 and a 1 year high of $58.17. The stock has a 50 day moving average price of $54.35 and a two-hundred day moving average price of $53.32.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released 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 return on equity of 10.64% and a net margin of 42.94%. As a group, equities analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a dividend of $0.445 per share. The ex-dividend date is Monday, March 31st. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 4.23%. First Industrial Realty Trust's payout ratio is currently 81.65%.

First Industrial Realty Trust 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.