62,759 Shares in First Industrial Realty Trust, Inc. (FR) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC purchased a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 62,759 shares of the real estate investment trust’s stock, valued at approximately $1,888,000. Convergence Investment Partners LLC owned 0.05% of First Industrial Realty Trust at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of First Industrial Realty Trust by 5.2% in the 2nd 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 in the last quarter. First Mercantile Trust Co. boosted its stake in shares of First Industrial Realty Trust by 1.8% in the 2nd 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 in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of First Industrial Realty Trust by 77.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,224 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 2,724 shares in the last quarter. World Asset Management Inc acquired a new position in First Industrial Realty Trust during the 2nd quarter worth about $212,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in First Industrial Realty Trust during the 3rd quarter worth about $213,000. Institutional investors own 92.97% of the company’s stock.

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) traded down $0.45 during trading hours on Wednesday, reaching $31.83. The company’s stock had a trading volume of 892,500 shares, compared to its average volume of 774,320. The company has a market cap of $3,868.66, a PE ratio of 20.96 and a beta of 1.02. First Industrial Realty Trust, Inc. has a 12-month low of $25.31 and a 12-month high of $32.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.25. The firm 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 company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. sell-side analysts expect that First Industrial Realty Trust, Inc. will post 1.56 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.84 annualized dividend and a yield of 2.64%. First Industrial Realty Trust’s dividend payout ratio is currently 78.50%.

FR has been the topic of several research reports. Janney Montgomery Scott initiated coverage on shares of First Industrial Realty Trust in a research report on Friday, September 29th. They set a “buy” rating and a $34.00 price target on the stock. ValuEngine upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. SunTrust Banks reiterated a “buy” rating and set a $34.00 price target on shares of First Industrial Realty Trust in a research report on Friday, November 10th. Stifel Nicolaus upped their price target on shares of First Industrial Realty Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Finally, Jefferies Group reiterated a “hold” rating and set a $34.00 price target on shares of First Industrial Realty Trust in a research report on Friday, November 24th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $32.00.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $30.85, for a total transaction of $519,976.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 50,565 shares of company stock valued at $1,585,718 over the last three months. Company insiders own 1.71% of the company’s stock.

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

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