Short Interest in First Industrial Realty Trust, Inc. (NYSE:FR) Drops By 10.0%

First Industrial Realty Trust, Inc. (NYSE:FRGet Rating) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 3,240,000 shares, a decline of 10.0% from the October 15th total of 3,600,000 shares. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is presently 2.6 days.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $48.21 on Friday. First Industrial Realty Trust has a fifty-two week low of $42.91 and a fifty-two week high of $66.74. The stock has a market cap of $6.37 billion, a PE ratio of 16.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.06 and a current ratio of 1.06. The firm’s fifty day moving average price is $47.18 and its two-hundred day moving average price is $49.68.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Saturday, December 31st will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Thursday, December 29th. First Industrial Realty Trust’s payout ratio is 39.86%.

Hedge Funds Weigh In On First Industrial Realty Trust

Hedge funds have recently modified their holdings of the business. National Bank of Canada FI lifted its stake in shares of First Industrial Realty Trust by 175.1% in the 1st quarter. National Bank of Canada FI now owns 140,289 shares of the real estate investment trust’s stock valued at $8,939,000 after purchasing an additional 89,289 shares during the period. Bank of Nova Scotia acquired a new stake in shares of First Industrial Realty Trust during the 1st quarter worth approximately $1,993,000. Pinebridge Investments L.P. increased its stake in shares of First Industrial Realty Trust by 592.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 692 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 592 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of First Industrial Realty Trust by 5.7% during the 2nd quarter. Yousif Capital Management LLC now owns 73,869 shares of the real estate investment trust’s stock valued at $3,507,000 after acquiring an additional 3,980 shares during the period. Finally, Texas Permanent School Fund boosted its stake in First Industrial Realty Trust by 3.3% during the second quarter. Texas Permanent School Fund now owns 95,407 shares of the real estate investment trust’s stock worth $4,530,000 after acquiring an additional 3,037 shares in the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FR. JPMorgan Chase & Co. dropped their price target on First Industrial Realty Trust from $60.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Robert W. Baird upped their price target on First Industrial Realty Trust from $69.00 to $75.00 in a research report on Friday, July 22nd. StockNews.com began coverage on shares of First Industrial Realty Trust in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Barclays reduced their target price on shares of First Industrial Realty Trust from $71.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, October 13th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.69.

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.

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