Rhumbline Advisers raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 286,723 shares of the real estate investment trust’s stock after buying an additional 231 shares during the period. Rhumbline Advisers owned about 0.24% of First Industrial Realty Trust worth $8,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FR. BlackRock Inc. increased its stake in First Industrial Realty Trust by 2,211.2% in the first quarter. BlackRock Inc. now owns 16,959,238 shares of the real estate investment trust’s stock worth $451,625,000 after buying an additional 16,225,445 shares during the last quarter. Prudential Financial Inc. increased its stake in First Industrial Realty Trust by 1,347.8% in the first quarter. Prudential Financial Inc. now owns 1,305,419 shares of the real estate investment trust’s stock worth $34,764,000 after buying an additional 1,215,251 shares during the last quarter. Weiss Multi Strategy Advisers LLC increased its stake in First Industrial Realty Trust by 156.0% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 1,385,022 shares of the real estate investment trust’s stock worth $36,883,000 after buying an additional 843,970 shares during the last quarter. Rothschild Asset Management Inc. purchased a new stake in First Industrial Realty Trust during the second quarter worth $19,235,000. Finally, Vanguard Group Inc. increased its stake in First Industrial Realty Trust by 3.1% in the first quarter. Vanguard Group Inc. now owns 18,821,832 shares of the real estate investment trust’s stock worth $501,225,000 after buying an additional 574,160 shares during the last quarter. 91.87% of the stock is owned by institutional investors.

Shares of First Industrial Realty Trust, Inc. (FR) opened at 30.48 on Friday. The company has a market cap of $3.65 billion, a P/E ratio of 31.04 and a beta of 1.00. First Industrial Realty Trust, Inc. has a 12 month low of $24.85 and a 12 month high of $31.14. The firm has a 50-day moving average price of $29.88 and a 200 day moving average price of $28.30.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.18. The business had revenue of $97.60 million during the quarter, compared to analyst estimates of $97.62 million. First Industrial Realty Trust had a return on equity of 8.88% and a net margin of 29.91%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. Equities analysts predict that First Industrial Realty Trust, Inc. will post $0.82 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.21 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.76%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 85.71%.

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A number of analysts recently weighed in on FR shares. Zacks Investment Research downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Jefferies Group LLC restated a “hold” rating and issued a $30.00 target price (up previously from $29.00) on shares of First Industrial Realty Trust in a research report on Sunday, June 25th. Stifel Nicolaus restated a “buy” rating and issued a $33.00 target price on shares of First Industrial Realty Trust in a research report on Friday, July 28th. BidaskClub upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Finally, KeyCorp restated a “hold” rating on shares of First Industrial Realty Trust in a research report on Friday. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. First Industrial Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $30.60.

In other news, CFO Scott A. Musil sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $30.22, for a total value of $604,400.00. Following the completion of the sale, the chief financial officer now directly owns 107,273 shares in the company, valued at $3,241,790.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter Schultz sold 12,132 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $30.43, for a total value of $369,176.76. Following the completion of the sale, the executive vice president now owns 109,399 shares of the company’s stock, valued at $3,329,011.57. The disclosure for this sale can be found here. Insiders sold 82,424 shares of company stock valued at $2,473,616 over the last 90 days. Company insiders own 1.83% of the company’s stock.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

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

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