Bank of New York Mellon Corp lowered its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,160,824 shares of the real estate investment trust’s stock after selling 172,376 shares during the period. Bank of New York Mellon Corp owned approximately 2.70% of First Industrial Realty Trust worth $90,463,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IFP Advisors Inc increased its position in First Industrial Realty Trust by 5.2% in the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 190 shares during the period. First Mercantile Trust Co. increased its position in First Industrial Realty Trust by 1.8% in the second quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 70 shares during the period. Glen Harbor Capital Management LLC increased its position in First Industrial Realty Trust by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 4,356 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 396 shares during the period. Elkfork Partners LLC increased its position in First Industrial Realty Trust by 10.0% in the first quarter. Elkfork Partners LLC now owns 5,544 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 504 shares during the period. Finally, Meadow Creek Investment Management LLC increased its position in First Industrial Realty Trust by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 6,732 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 612 shares during the period. Hedge funds and other institutional investors own 91.87% of the company’s stock.

First Industrial Realty Trust, Inc. (NYSE:FR) opened at 30.48 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $24.85 and a 52-week high of $31.14. The stock has a 50 day moving average of $29.88 and a 200-day moving average of $28.30. The company has a market capitalization of $3.65 billion, a P/E ratio of 31.04 and a beta of 1.00.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.18. The firm had revenue of $97.60 million for the quarter, compared to analysts’ expectations of $97.62 million. First Industrial Realty Trust had a return on equity of 8.88% and a net margin of 29.91%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post $0.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, September 28th. First Industrial Realty Trust’s payout ratio is 85.71%.

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A number of research analysts have commented on the stock. KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a research note on Friday. Jefferies Group LLC reiterated a “hold” rating and set a $32.00 price objective (up from $30.00) on shares of First Industrial Realty Trust in a research note on Thursday. Stifel Nicolaus reiterated a “buy” rating and set a $31.50 price objective on shares of First Industrial Realty Trust in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, BidaskClub upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. First Industrial Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $30.60.

In other First Industrial Realty Trust news, EVP Peter Schultz sold 12,132 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $30.43, for a total transaction of $369,176.76. Following the transaction, the executive vice president now owns 109,399 shares in the company, valued at approximately $3,329,011.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott A. Musil sold 20,000 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 107,273 shares in the company, valued at approximately $3,241,790.06. The disclosure for this sale can be found here. Insiders have sold a total of 82,424 shares of company stock worth $2,473,616 in the last quarter. 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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