First Industrial Realty Trust, Inc. (NYSE:FR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, May 5th.
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. “
A number of other analysts have also issued reports on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $29.00 price target on shares of First Industrial Realty Trust in a research note on Monday, April 24th. BMO Capital Markets reaffirmed a “hold” rating and issued a $28.00 price target on shares of First Industrial Realty Trust in a research note on Wednesday, March 22nd. Finally, Robert W. Baird lowered First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $29.00 to $28.00 in a research note on Wednesday, January 11th.
First Industrial Realty Trust (NYSE:FR) traded up 1.06% on Friday, hitting $28.57. 655,688 shares of the company’s stock traded hands. The stock has a market cap of $3.35 billion, a P/E ratio of 26.12 and a beta of 0.96. The stock has a 50 day moving average price of $27.91 and a 200-day moving average price of $27.02. First Industrial Realty Trust has a 12 month low of $24.27 and a 12 month high of $29.75.
First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.01. The firm had revenue of $97.38 million during the quarter, compared to analyst estimates of $97.31 million. First Industrial Realty Trust had a return on equity of 11.92% and a net margin of 37.72%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share. Equities analysts predict that First Industrial Realty Trust will post $0.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Wednesday, June 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 61.79%.
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In other First Industrial Realty Trust news, insider Johannson L. Yap sold 18,000 shares of the business’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $28.18, for a total transaction of $507,240.00. Following the transaction, the insider now owns 296,002 shares of the company’s stock, valued at $8,341,336.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bruce W. Duncan sold 17,157 shares of First Industrial Realty Trust stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $27.71, for a total value of $475,420.47. Following the completion of the sale, the director now owns 978,159 shares in the company, valued at approximately $27,104,785.89. The disclosure for this sale can be found here. Insiders have sold 52,313 shares of company stock worth $1,460,284 in the last three months. 1.83% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd acquired a new stake in First Industrial Realty Trust during the fourth quarter worth approximately $109,000. Glen Harbor Capital Management LLC increased its stake in First Industrial Realty Trust by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 4,356 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 396 shares in the last quarter. Elkfork Partners LLC acquired a new stake in First Industrial Realty Trust during the fourth quarter worth approximately $141,000. Meadow Creek Investment Management LLC increased its stake in First Industrial Realty Trust by 10.0% in the first 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. Finally, Pacad Investment Ltd. acquired a new stake in First Industrial Realty Trust during the fourth quarter worth approximately $180,000. Institutional investors own 97.32% of the company’s stock.
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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