First Industrial Realty Trust, Inc. (NYSE:FR) Position Trimmed by Centersquare Investment Management LLC

Centersquare Investment Management LLC lowered its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 43.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,674,565 shares of the real estate investment trust’s stock after selling 2,044,775 shares during the period. First Industrial Realty Trust makes up about 1.4% of Centersquare Investment Management LLC’s investment portfolio, making the stock its 25th largest holding. Centersquare Investment Management LLC owned approximately 2.02% of First Industrial Realty Trust worth $134,076,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc lifted its stake in First Industrial Realty Trust by 92.5% in the 4th quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 481 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of First Industrial Realty Trust by 24.7% during the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 214 shares during the period. Venturi Wealth Management LLC grew its position in First Industrial Realty Trust by 200.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 747 shares in the last quarter. Blue Trust Inc. lifted its position in First Industrial Realty Trust by 30.7% in the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 292 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in First Industrial Realty Trust by 73.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 575 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on FR shares. Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective on the stock. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Finally, Robert W. Baird upped their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.38.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $49.99 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $45.10 and a 52-week high of $58.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 22.93 and a beta of 1.07. The firm’s 50-day moving average is $55.05 and its 200-day moving average is $53.66.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. Equities research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.56%. The ex-dividend date is Monday, March 31st. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s payout ratio is 81.65%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.