Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 1,451.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,985 shares of the real estate investment trust’s stock after purchasing an additional 130,028 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.12% of First Industrial Realty Trust worth $3,978,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in First Industrial Realty Trust by 5.2% in the 2nd quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 190 shares in the last quarter. Glen Harbor Capital Management LLC lifted its position in First Industrial Realty Trust by 10.0% in the 1st quarter. Glen Harbor Capital Management LLC now owns 4,356 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 396 shares in the last quarter. First Mercantile Trust Co. lifted its position in First Industrial Realty Trust by 1.8% in the 2nd quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 70 shares in the last quarter. Elkfork Partners LLC lifted its position in First Industrial Realty Trust by 10.0% in the 1st quarter. Elkfork Partners LLC now owns 5,544 shares of the real estate investment trust’s stock valued at $148,000 after acquiring an additional 504 shares in the last quarter. Finally, Meadow Creek Investment Management LLC lifted its position in First Industrial Realty Trust by 10.0% in the 1st quarter. Meadow Creek Investment Management LLC now owns 6,732 shares of the real estate investment trust’s stock valued at $179,000 after acquiring an additional 612 shares in the last quarter. 92.39% of the stock is currently owned by institutional investors.

In related news, CFO Scott A. Musil sold 20,000 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $30.22, for a total transaction of $604,400.00. Following the transaction, the chief financial officer now owns 107,273 shares in the company, valued at $3,241,790.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Schultz sold 12,132 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,424 shares of company stock worth $2,473,616. 1.83% of the stock is owned by insiders.

Several equities analysts recently weighed in on FR shares. Stifel Nicolaus raised their price target on shares of First Industrial Realty Trust from $30.00 to $31.50 and gave the company a “buy” rating in a research report on Wednesday, June 14th. BidaskClub cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $30.00 price target (up previously from $29.00) on shares of First Industrial Realty Trust in a research report on Sunday, June 25th. Zacks Investment Research cut shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a research report on Friday, August 25th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. First Industrial Realty Trust presently has an average rating of “Hold” and a consensus price target of $30.60.

ILLEGAL ACTIVITY NOTICE: “First Industrial Realty Trust, Inc. (FR) Shares Bought by Los Angeles Capital Management & Equity Research Inc.” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another website, it was illegally copied and republished in violation of international copyright and trademark laws. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/09/13/first-industrial-realty-trust-inc-fr-shares-bought-by-los-angeles-capital-management-equity-research-inc.html.

First Industrial Realty Trust, Inc. (NYSE FR) opened at 31.34 on Wednesday. The firm’s 50 day moving average is $30.45 and its 200 day moving average is $28.67. The company has a market cap of $3.76 billion, a PE ratio of 31.91 and a beta of 1.00. First Industrial Realty Trust, Inc. has a 52-week low of $24.85 and a 52-week high of $31.83.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) 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 the consensus estimate of $97.62 million. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Analysts forecast that First Industrial Realty Trust, Inc. will post $0.82 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.68%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 85.71%.

First Industrial Realty Trust Profile

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)

Receive News & Stock Ratings for First Industrial Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust Inc. and related stocks with our FREE daily email newsletter.