Franklin Resources Inc. decreased its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 492,500 shares of the real estate investment trust’s stock after selling 12,453 shares during the quarter. Franklin Resources Inc. owned approximately 0.41% of First Industrial Realty Trust worth $14,095,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its position in First Industrial Realty Trust by 11,371.8% in the 2nd quarter. Sei Investments Co. now owns 102,902 shares of the real estate investment trust’s stock worth $2,945,000 after buying an additional 102,005 shares in the last quarter. Legal & General Group Plc lifted its position in First Industrial Realty Trust by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 356,336 shares of the real estate investment trust’s stock worth $10,197,000 after buying an additional 36,713 shares in the last quarter. Chicago Equity Partners LLC purchased a new stake in First Industrial Realty Trust in the 2nd quarter worth approximately $1,637,000. SG Americas Securities LLC lifted its position in First Industrial Realty Trust by 146.3% in the 1st quarter. SG Americas Securities LLC now owns 20,486 shares of the real estate investment trust’s stock worth $546,000 after buying an additional 12,167 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 worth $179,000 after buying an additional 612 shares in the last quarter. Institutional investors own 92.07% of the company’s stock.

Shares of First Industrial Realty Trust, Inc. (FR) opened at 30.84 on Friday. The firm has a 50-day moving average of $30.65 and a 200-day moving average of $28.86. The stock has a market cap of $3.70 billion, a P/E ratio of 31.41 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 announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.18. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The firm had revenue of $97.60 million for the quarter, compared to analyst estimates of $97.62 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that First Industrial Realty Trust, Inc. will post $0.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, September 28th. First Industrial Realty Trust’s payout ratio is currently 85.71%.

In other First Industrial Realty Trust news, EVP Peter Schultz sold 12,132 shares of First Industrial Realty Trust 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 transaction, the executive vice president now owns 109,399 shares of the company’s stock, valued at $3,329,011.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce W. Duncan sold 15,146 shares of First Industrial Realty Trust stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $28.68, for a total transaction of $434,387.28. Following the completion of the transaction, the director now directly owns 949,531 shares in the company, valued at approximately $27,232,549.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,279 shares of company stock worth $3,004,548. Insiders own 1.83% of the company’s stock.

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A number of equities research analysts have issued reports on FR shares. Stifel Nicolaus increased their target price on shares of First Industrial Realty Trust from $30.00 to $31.50 and gave the stock a “buy” rating in a research report on Wednesday, June 14th. BidaskClub upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a research report on Friday, August 25th. Jefferies Group LLC reiterated a “hold” rating and issued a $32.00 target price (up previously from $30.00) on shares of First Industrial Realty Trust in a research report on Thursday, August 24th. Finally, Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $30.60.

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.

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

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