First Industrial Realty Trust, Inc. (FR) Downgraded to Hold at Zacks Investment Research

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%.

COPYRIGHT VIOLATION WARNING: “First Industrial Realty Trust, Inc. (FR) Downgraded to Hold at Zacks Investment Research” was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.chaffeybreeze.com/2017/05/20/first-industrial-realty-trust-inc-fr-downgraded-by-zacks-investment-research-updated.html.

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.

12 Month Chart for NYSE:FR

Get a free copy of the Zacks research report on First Industrial Realty Trust (FR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for First Industrial Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply