Spouting Rock Asset Management LLC Lowers Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Spouting Rock Asset Management LLC decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FRGet Rating) by 22.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,990 shares of the real estate investment trust’s stock after selling 6,646 shares during the quarter. Spouting Rock Asset Management LLC’s holdings in First Industrial Realty Trust were worth $1,522,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position 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 worth $191,965,000 after acquiring an additional 648,092 shares during the period. Two Sigma Investments LP grew its position in shares of First Industrial Realty Trust by 109.0% during the 3rd quarter. Two Sigma Investments LP now owns 574,700 shares of the real estate investment trust’s stock worth $29,930,000 after buying an additional 299,691 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth $14,677,000. Tudor Investment Corp Et Al purchased a new stake in First Industrial Realty Trust in the third quarter worth approximately $11,202,000. Finally, Morgan Stanley grew its stake in shares of First Industrial Realty Trust by 146.5% in the second quarter. Morgan Stanley now owns 358,812 shares of the real estate investment trust’s stock worth $18,740,000 after acquiring an additional 213,252 shares during the last quarter. 96.39% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of First Industrial Realty Trust stock traded down $0.06 on Thursday, reaching $51.98. 1,394,332 shares of the company were exchanged, compared to its average volume of 974,542. First Industrial Realty Trust, Inc. has a fifty-two week low of $48.29 and a fifty-two week high of $66.74. 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 market capitalization of $6.86 billion, a price-to-earnings ratio of 27.83 and a beta of 0.93. The stock has a fifty day moving average price of $59.92 and a 200-day moving average price of $60.61.

First Industrial Realty Trust (NYSE:FRGet Rating) last released its earnings results 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 firm had revenue of $125.50 million during the quarter, compared to analysts’ expectations of $123.45 million. First Industrial Realty Trust had a return on equity of 11.40% and a net margin of 50.47%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 earnings per share. On average, equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 18th. Shareholders of record on Thursday, June 30th will be issued a $0.295 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.27%. First Industrial Realty Trust’s dividend payout ratio is currently 63.10%.

First Industrial Realty Trust Company Profile (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.

Further Reading

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

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