First Industrial Realty Trust, Inc. (NYSE:FR) Position Lowered by Legal & General Group Plc

Legal & General Group Plc reduced its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 799,449 shares of the real estate investment trust's stock after selling 86,856 shares during the period. Legal & General Group Plc owned 0.60% of First Industrial Realty Trust worth $40,076,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CIBC Asset Management Inc raised its holdings in shares of First Industrial Realty Trust by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust's stock worth $205,000 after acquiring an additional 210 shares during the last quarter. UMB Bank n.a. lifted its holdings in First Industrial Realty Trust by 24.7% in the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 214 shares in the last quarter. Principal Securities Inc. grew its stake in First Industrial Realty Trust by 9.3% in the 4th quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust's stock worth $158,000 after acquiring an additional 269 shares during the period. Stifel Financial Corp lifted its stake in shares of First Industrial Realty Trust by 1.1% during the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust's stock worth $1,450,000 after purchasing an additional 278 shares during the period. Finally, Fortem Financial Group LLC grew its position in shares of First Industrial Realty Trust by 2.9% in the fourth quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust's stock valued at $517,000 after purchasing an additional 292 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

Wall Street Analyst Weigh In

FR has been the topic of a number of research analyst reports. The Goldman Sachs Group raised First Industrial Realty Trust from a "sell" rating to a "neutral" rating and raised their price target for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Scotiabank decreased 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 report on Monday, April 7th. Barclays restated a "cautious" rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a "hold" rating and a $52.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $57.77.

First Industrial Realty Trust Stock Up 1.5 %

Shares of FR stock traded up $0.68 on Friday, hitting $47.53. The stock had a trading volume of 2,872,277 shares, compared to its average volume of 1,121,627. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 21.80 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The stock's 50 day moving average is $53.11 and its 200-day moving average is $52.82.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The business had revenue of $177.07 million for the quarter, compared to analyst estimates of $176.98 million. As a group, research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current 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 paid a dividend of $0.445 per share. 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 dividend yield of 3.74%. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust's dividend payout ratio is 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.