Trade Report: The First Industrial Realty Trust Inc. (FR) Lowered by The Zacks Investment Research

The First Industrial Realty Trust Inc. (FR) Lowered by The Zacks Investment Research

Zacks Investment Research cut shares of First Industrial Realty Trust Inc. (NYSE:FR) from a buy rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “FIRST INDUSTRIAL REALTY TRUST is a self-administered and fully integrated industrial real estate company which owns, mamages, acquires and develops industrial real estste. “

Separately, Jefferies Group reissued a hold rating on shares of First Industrial Realty Trust in a research report on Thursday, August 18th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. First Industrial Realty Trust presently has an average rating of Buy and an average price target of $26.00.

Shares of First Industrial Realty Trust (NYSE:FR) opened at 25.68 on Tuesday. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 20.61 and a beta of 1.19. First Industrial Realty Trust has a 52-week low of $18.89 and a 52-week high of $29.75. The firm has a 50-day moving average of $27.23 and a 200 day moving average of $26.72.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.31. First Industrial Realty Trust had a net margin of 37.72% and a return on equity of 11.92%. Analysts predict that First Industrial Realty Trust will post $1.45 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Friday, September 30th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, September 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 61.79%.

A number of hedge funds have recently bought and sold shares of the company. BlackRock Japan Co. Ltd raised its stake in First Industrial Realty Trust by 1.7% in the first quarter. BlackRock Japan Co. Ltd now owns 5,863 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 97 shares during the period. Hsbc Holdings PLC increased its position in First Industrial Realty Trust by 0.6% in the second quarter. Hsbc Holdings PLC now owns 20,667 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 116 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in First Industrial Realty Trust by 1.3% in the third quarter. First Citizens Bank & Trust Co. now owns 14,978 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 199 shares in the last quarter. Louisiana State Employees Retirement System increased its position in First Industrial Realty Trust by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 31,100 shares of the real estate investment trust’s stock valued at $865,000 after buying an additional 200 shares in the last quarter. Finally, Suntrust Banks Inc. increased its position in First Industrial Realty Trust by 2.9% in the second quarter. Suntrust Banks Inc. now owns 10,051 shares of the real estate investment trust’s stock valued at $279,000 after buying an additional 285 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

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. The Company owns approximately 590 in-service industrial properties containing approximately 63.6 million square feet of gross leasable area (GLA).

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