Spouting Rock Asset Management LLC Sells 6,646 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Spouting Rock Asset Management LLC decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR – Get Rating) by 22.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,990 shares of the real estate investment trust’s stock after selling 6,646 shares during the period. Spouting Rock Asset Management LLC’s holdings in First Industrial Realty Trust were worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in First Industrial Realty Trust by 2.1% during the 4th quarter. Principal Financial Group Inc. now owns 9,705,520 shares of the real estate investment trust’s stock valued at $640,933,000 after purchasing an additional 199,158 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of First Industrial Realty Trust by 21.3% in the 3rd quarter. Goldman Sachs Group Inc. now owns 3,685,960 shares of the real estate investment trust’s stock valued at $191,965,000 after purchasing an additional 648,092 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of First Industrial Realty Trust by 2.0% in the fourth quarter. Victory Capital Management Inc. now owns 2,024,262 shares of the real estate investment trust’s stock valued at $134,007,000 after purchasing an additional 38,929 shares during the period. Hsbc Holdings PLC lifted its position in First Industrial Realty Trust by 20.8% in the 3rd quarter. Hsbc Holdings PLC now owns 1,188,020 shares of the real estate investment trust’s stock worth $62,672,000 after buying an additional 204,916 shares in the last quarter. Finally, Waterfront Capital Partners LLC boosted its position in shares of First Industrial Realty Trust by 3.5% during the 3rd quarter. Waterfront Capital Partners LLC now owns 988,024 shares of the real estate investment trust’s stock valued at $51,456,000 after acquiring an additional 33,673 shares in the last quarter. 96.39% of the stock is owned by institutional investors and hedge funds.

NYSE:FR traded down $0.06 during trading hours on Thursday, hitting $51.98. 1,394,332 shares of the company traded hands, compared to its average volume of 974,542. First Industrial Realty Trust, Inc. has a twelve month low of $48.29 and a twelve month high of $66.74. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 27.83 and a beta of 0.93. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average of $59.92 and a 200 day moving average of $60.61.

First Industrial Realty Trust (NYSE:FR – Get Rating) last posted its quarterly earnings data on Wednesday, April 20th. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The business had revenue of $125.50 million during the quarter, compared to analysts’ expectations of $123.45 million. First Industrial Realty Trust had a net margin of 50.47% and a return on equity of 11.40%. First Industrial Realty Trust’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 earnings per share. Equities research analysts predict that First Industrial Realty Trust, Inc. will post 2.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 18th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.18 annualized dividend and a dividend yield of 2.27%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.10%.

A number of research analysts have weighed in on FR shares. Mizuho downgraded First Industrial Realty Trust from a “buy” rating to a “neutral” rating and upped their target price for the stock from $54.00 to $64.00 in a report on Thursday, January 13th. StockNews.com initiated coverage on shares of First Industrial Realty Trust in a report on Thursday, March 31st. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $53.73.

About First Industrial Realty Trust (Get Rating)

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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