Smithfield Trust Co. decreased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 39.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,195 shares of the real estate investment trust’s stock after selling 6,051 shares during the period. Smithfield Trust Co.’s holdings in First Industrial Realty Trust were worth $277,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in First Industrial Realty Trust by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 258,793 shares of the real estate investment trust’s stock worth $7,406,000 after buying an additional 2,757 shares in the last quarter. Chicago Equity Partners LLC purchased a new position in First Industrial Realty Trust during the second quarter worth $1,637,000. Legal & General Group Plc increased its position in First Industrial Realty Trust by 11.5% during the second 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. Goldman Sachs Group Inc. increased its position in First Industrial Realty Trust by 3.7% during the second quarter. Goldman Sachs Group Inc. now owns 740,025 shares of the real estate investment trust’s stock worth $21,180,000 after buying an additional 26,649 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of First Industrial Realty Trust by 10.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,384,869 shares of the real estate investment trust’s stock valued at $39,635,000 after purchasing an additional 128,673 shares during the period. 92.07% of the stock is owned by institutional investors.

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) traded down $0.17 during trading hours on Thursday, hitting $31.62. The stock had a trading volume of 219,786 shares, compared to its average volume of 685,139. First Industrial Realty Trust, Inc. has a twelve month low of $24.85 and a twelve month high of $31.87. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $3,805.14, a P/E ratio of 20.62 and a beta of 1.01.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The firm had revenue of $99.30 million during the quarter, compared to the consensus estimate of $98.38 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. research analysts forecast that First Industrial Realty Trust, Inc. will post 1.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, December 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 78.50%.

FR has been the subject of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $31.50 price objective on shares of First Industrial Realty Trust in a research report on Friday, July 14th. BidaskClub raised First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $32.00 price objective (up previously from $30.00) on shares of First Industrial Realty Trust in a research report on Thursday, August 24th. Finally, KeyCorp reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a research report on Friday, August 25th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.33.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $31.73, for a total transaction of $534,809.15. Following the completion of the sale, the director now owns 883,820 shares of the company’s stock, valued at $28,043,608.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Harker sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $30.45, for a total value of $609,000.00. Following the sale, the executive vice president now directly owns 118,470 shares of the company’s stock, valued at approximately $3,607,411.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,565 shares of company stock valued at $2,194,718. 1.71% of the stock is owned by company insiders.

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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.

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

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