Advisors Asset Management Inc. Sells 7,667 Shares of First Industrial Realty Trust, Inc. (FR)

Advisors Asset Management Inc. lessened its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 20.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,686 shares of the real estate investment trust’s stock after selling 7,667 shares during the quarter. Advisors Asset Management Inc.’s holdings in First Industrial Realty Trust were worth $893,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. First Mercantile Trust Co. increased its holdings in shares of First Industrial Realty Trust by 1.8% in 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 purchasing an additional 70 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of First Industrial Realty Trust by 5.2% in the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 190 shares during the last quarter. GAM Holding AG increased its holdings in shares of First Industrial Realty Trust by 3.6% in the second quarter. GAM Holding AG now owns 9,946 shares of the real estate investment trust’s stock valued at $285,000 after purchasing an additional 345 shares during the last quarter. Amalgamated Bank increased its stake in First Industrial Realty Trust by 2.2% during the second quarter. Amalgamated Bank now owns 16,607 shares of the real estate investment trust’s stock worth $475,000 after acquiring an additional 351 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in First Industrial Realty Trust by 0.3% during the second quarter. Great West Life Assurance Co. Can now owns 128,273 shares of the real estate investment trust’s stock worth $3,669,000 after acquiring an additional 394 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Bruce W. Duncan sold 16,855 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $31.73, for a total transaction of $534,809.15. Following the completion of the transaction, the director now directly owns 883,820 shares in the company, valued at $28,043,608.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have sold 50,565 shares of company stock valued at $1,585,718. Company insiders own 1.71% of the company’s stock.

Several equities research analysts have issued reports on FR shares. Jefferies Group reissued a “hold” rating and set a $32.00 target price (up previously from $30.00) on shares of First Industrial Realty Trust in a research note on Thursday, August 24th. KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a research note on Friday, August 25th. Janney Montgomery Scott started coverage on First Industrial Realty Trust in a research note on Friday, September 29th. They set a “buy” rating and a $34.00 target price for the company. SunTrust Banks reissued a “buy” rating and set a $32.00 target price on shares of First Industrial Realty Trust in a research note on Friday, October 27th. Finally, Stifel Nicolaus raised their target price on First Industrial Realty Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. First Industrial Realty Trust has an average rating of “Buy” and a consensus target price of $32.00.

Shares of First Industrial Realty Trust, Inc. (FR) opened at $32.63 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $3,910.61, a price-to-earnings ratio of 21.19 and a beta of 1.02. First Industrial Realty Trust, Inc. has a one year low of $25.31 and a one year high of $32.86.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.25. The company had revenue of $99.30 million during the quarter, compared to analysts’ expectations of $98.38 million. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. equities analysts expect that First Industrial Realty Trust, Inc. will post 1.56 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.84 annualized dividend and a dividend yield of 2.57%. First Industrial Realty Trust’s dividend payout ratio is currently 78.50%.

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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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