King Luther Capital Management Corp Sells 80,445 Shares of First Industrial Realty Trust, Inc. (FR)

King Luther Capital Management Corp reduced its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 33.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,150 shares of the real estate investment trust’s stock after selling 80,445 shares during the period. King Luther Capital Management Corp owned approximately 0.14% of First Industrial Realty Trust worth $4,641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC grew its stake in shares of First Industrial Realty Trust by 0.3% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 20,210 shares of the real estate investment trust’s stock valued at $538,000 after acquiring an additional 60 shares in the last quarter. First Mercantile Trust Co. grew its stake in shares of First Industrial Realty Trust by 1.8% during the second quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 70 shares in the last quarter. IFP Advisors Inc grew its stake in shares of First Industrial Realty Trust by 5.2% during the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 190 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Industrial Realty Trust by 4.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,342 shares of the real estate investment trust’s stock valued at $196,000 after acquiring an additional 327 shares in the last quarter. Finally, GAM Holding AG grew its stake in shares of First Industrial Realty Trust by 3.6% during the second quarter. GAM Holding AG now owns 9,946 shares of the real estate investment trust’s stock valued at $285,000 after acquiring an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 92.39% of the company’s stock.

Several brokerages have recently weighed in on FR. Zacks Investment Research upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. KeyCorp restated a “hold” rating on shares of First Industrial Realty Trust in a research note on Friday, August 25th. Jefferies Group LLC restated a “hold” rating and set a $32.00 target price (up from $30.00) on shares of First Industrial Realty Trust in a research note on Thursday, August 24th. Stifel Nicolaus restated a “buy” rating and set a $33.00 target price on shares of First Industrial Realty Trust in a research note on Friday, July 28th. Finally, BidaskClub upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $30.60.

In other news, CFO Scott A. Musil sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $30.22, for a total transaction of $604,400.00. Following the transaction, the chief financial officer now directly owns 107,273 shares in the company, valued at $3,241,790.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce W. Duncan sold 15,146 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $28.68, for a total transaction of $434,387.28. Following the transaction, the director now owns 949,531 shares in the company, valued at $27,232,549.08. The disclosure for this sale can be found here. Insiders have sold 99,279 shares of company stock worth $3,004,548 over the last quarter. 1.83% of the stock is owned by company insiders.

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First Industrial Realty Trust, Inc. (NYSE FR) opened at 31.40 on Friday. The firm has a market capitalization of $3.76 billion, a P/E ratio of 31.98 and a beta of 1.00. The company has a 50-day moving average price of $30.60 and a 200-day moving average price of $28.77. First Industrial Realty Trust, Inc. has a 1-year low of $24.85 and a 1-year high of $31.83.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.18. The company had revenue of $97.60 million for the quarter, compared to the consensus estimate of $97.62 million. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, equities research analysts predict that First Industrial Realty Trust, Inc. will post $0.82 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.68%. First Industrial Realty Trust’s payout ratio is 85.71%.

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.

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

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