Eagle Asset Management Inc. Purchases 26,047 Shares of First Industrial Realty Trust, Inc. (FR)

Eagle Asset Management Inc. raised its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 43.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,843 shares of the real estate investment trust’s stock after purchasing an additional 26,047 shares during the quarter. Eagle Asset Management Inc. owned 0.07% of First Industrial Realty Trust worth $2,456,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake in shares of First Industrial Realty Trust by 11,371.8% in the 2nd quarter. Sei Investments Co. now owns 102,902 shares of the real estate investment trust’s stock valued at $2,945,000 after purchasing an additional 102,005 shares during the period. SG Americas Securities LLC raised its stake in shares of First Industrial Realty Trust by 146.3% in the 1st quarter. SG Americas Securities LLC now owns 20,486 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 12,167 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of First Industrial Realty Trust by 30.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 2,100 shares during the period. Prudential Financial Inc. raised its stake in shares of First Industrial Realty Trust by 1,347.8% in the 1st quarter. Prudential Financial Inc. now owns 1,305,419 shares of the real estate investment trust’s stock valued at $34,764,000 after purchasing an additional 1,215,251 shares during the period. Finally, Meadow Creek Investment Management LLC raised its stake in shares of First Industrial Realty Trust by 10.0% in the 1st quarter. Meadow Creek Investment Management LLC now owns 6,732 shares of the real estate investment trust’s stock valued at $179,000 after purchasing an additional 612 shares during the period. 92.39% of the stock is currently owned by hedge funds and other institutional investors.

In other First Industrial Realty Trust news, CFO Scott A. Musil sold 20,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $30.22, for a total value of $604,400.00. Following the completion of the sale, the chief financial officer now owns 107,273 shares in the company, valued at approximately $3,241,790.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Bruce W. Duncan sold 15,146 shares of the stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $28.68, for a total transaction of $434,387.28. Following the completion of the sale, the director now owns 949,531 shares of the company’s stock, valued at approximately $27,232,549.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,424 shares of company stock valued at $2,473,616. Company insiders own 1.83% of the company’s stock.

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

First Industrial Realty Trust, Inc. (FR) opened at 31.18 on Monday. The stock has a 50 day moving average price of $30.39 and a 200 day moving average price of $28.60. First Industrial Realty Trust, Inc. has a one year low of $24.85 and a one year high of $31.43. The company has a market cap of $3.74 billion, a PE ratio of 31.75 and a beta of 1.00.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.21 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.84 annualized dividend and a yield of 2.69%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 85.71%.

First Industrial Realty Trust Profile

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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