Waterfront Capital Partners LLC Buys Shares of 291,741 First Industrial Realty Trust, Inc. (NYSE:FR)

Waterfront Capital Partners LLC acquired a new position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 291,741 shares of the real estate investment trust's stock, valued at approximately $14,625,000. First Industrial Realty Trust comprises about 2.7% of Waterfront Capital Partners LLC's holdings, making the stock its 19th biggest holding. Waterfront Capital Partners LLC owned 0.22% of First Industrial Realty Trust at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Synovus Financial Corp lifted its holdings in First Industrial Realty Trust by 96.3% during the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust's stock valued at $1,588,000 after purchasing an additional 13,922 shares in the last quarter. Franklin Resources Inc. lifted its holdings in First Industrial Realty Trust by 42.9% during the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock valued at $10,546,000 after purchasing an additional 58,088 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in First Industrial Realty Trust during the fourth quarter valued at approximately $1,463,000. Barclays PLC lifted its holdings in First Industrial Realty Trust by 109.7% during the fourth quarter. Barclays PLC now owns 274,968 shares of the real estate investment trust's stock valued at $13,783,000 after purchasing an additional 143,857 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock valued at $187,798,000 after purchasing an additional 747,101 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Monday. Barclays reiterated a "cautious" rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. Robert W. Baird lifted their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, Scotiabank reduced their price objective 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 report on Monday, April 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of "Hold" and a consensus price target of $57.58.

First Industrial Realty Trust Trading Up 0.9 %

NYSE FR traded up $0.44 on Monday, hitting $47.75. 1,045,647 shares of the stock were exchanged, compared to its average volume of 1,121,968. The firm has a market capitalization of $6.32 billion, a P/E ratio of 21.90 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. 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 has a fifty day moving average price of $52.06 and a two-hundred day moving average price of $52.48.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). The company had revenue of $177.07 million for the quarter, compared to analysts' expectations of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. Research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a dividend of $0.445 per share. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, March 31st. First Industrial Realty Trust's payout ratio is currently 88.12%.

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.