First Industrial Realty Trust, Inc. (NYSE:FR) Stake Decreased by American International Group Inc.

American International Group Inc. lessened its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 2.0% during the first quarter, Holdings Channel.com reports. The fund owned 175,091 shares of the real estate investment trust’s stock after selling 3,580 shares during the period. American International Group Inc.’s holdings in First Industrial Realty Trust were worth $9,199,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Centersquare Investment Management LLC increased its stake in shares of First Industrial Realty Trust by 8.4% during the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after acquiring an additional 380,805 shares during the period. Cetera Trust Company N.A acquired a new position in First Industrial Realty Trust in the fourth quarter worth approximately $237,000. Campbell & CO Investment Adviser LLC grew its position in First Industrial Realty Trust by 66.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 41,720 shares of the real estate investment trust’s stock worth $2,197,000 after buying an additional 16,652 shares during the last quarter. Cibc World Markets Corp acquired a new position in First Industrial Realty Trust in the fourth quarter worth approximately $11,808,000. Finally, Frontier Capital Management Co. LLC grew its position in First Industrial Realty Trust by 788.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after buying an additional 1,105,286 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

FR traded up $0.27 during trading on Thursday, hitting $53.24. The stock had a trading volume of 298,427 shares, compared to its average volume of 1,061,065. The firm has a market cap of $7.05 billion, a PE ratio of 24.41 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 12 month low of $40.44 and a 12 month high of $55.15. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The company has a 50 day simple moving average of $48.24 and a 200-day simple moving average of $50.27.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.25). The firm had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 EPS. Analysts expect that First Industrial Realty Trust, Inc. will post 2.6 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.37 per share. The ex-dividend date was Friday, June 28th. This represents a $1.48 annualized dividend and a dividend yield of 2.78%. First Industrial Realty Trust’s payout ratio is 68.20%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FR shares. Wedbush lowered shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $59.00 to $49.00 in a research report on Thursday, April 25th. Mizuho restated a “buy” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. Scotiabank decreased their price objective on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating for the company in a research note on Thursday, May 16th. Robert W. Baird decreased their price objective on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, Barclays reaffirmed an “equal weight” rating and issued a $53.00 price objective (down previously from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Hold” and an average target price of $53.09.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.