First Industrial Realty Trust, Inc. (FR) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System increased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,600 shares of the real estate investment trust’s stock after buying an additional 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in First Industrial Realty Trust were worth $876,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. State Treasurer State of Michigan increased its position in shares of First Industrial Realty Trust by 1.1% in the first quarter. State Treasurer State of Michigan now owns 47,600 shares of the real estate investment trust’s stock valued at $1,268,000 after buying an additional 500 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of First Industrial Realty Trust by 2.6% in the first quarter. Great West Life Assurance Co. Can now owns 127,879 shares of the real estate investment trust’s stock valued at $3,402,000 after buying an additional 3,206 shares during the last quarter. Bowling Portfolio Management LLC acquired a new position in shares of First Industrial Realty Trust during the first quarter valued at about $487,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of First Industrial Realty Trust by 4.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,604 shares of the real estate investment trust’s stock valued at $495,000 after buying an additional 850 shares during the last quarter. Finally, Wright Investors Service Inc. acquired a new position in shares of First Industrial Realty Trust during the first quarter valued at about $349,000. 91.87% of the stock is currently owned by institutional investors and hedge funds.

Shares of First Industrial Realty Trust, Inc. (FR) opened at 29.98 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $24.85 and a 52-week high of $31.14. The company has a market cap of $3.59 billion, a P/E ratio of 30.53 and a beta of 1.00. The stock’s 50 day moving average price is $29.65 and its 200-day moving average price is $28.14.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.18. First Industrial Realty Trust had a return on equity of 8.88% and a net margin of 29.91%. The company had revenue of $97.60 million for the quarter, compared to the consensus estimate of $97.62 million. During the same quarter last year, the business posted $0.36 EPS. First Industrial Realty Trust’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts expect that First Industrial Realty Trust, Inc. will post $0.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, September 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 85.71%.

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Several equities analysts have issued reports on FR shares. Stifel Nicolaus reiterated a “buy” rating and issued a $33.00 price objective on shares of First Industrial Realty Trust in a research report on Friday, July 28th. BidaskClub upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, May 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $30.00 price objective (up previously from $29.00) on shares of First Industrial Realty Trust in a research report on Sunday, June 25th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. First Industrial Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $30.20.

In related news, CFO Scott A. Musil sold 20,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $30.22, for a total transaction of $604,400.00. Following the sale, the chief financial officer now owns 107,273 shares of the company’s stock, valued at approximately $3,241,790.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Schultz sold 12,132 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $30.43, for a total value of $369,176.76. Following the sale, the executive vice president now directly owns 109,399 shares in the company, valued at approximately $3,329,011.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,424 shares of company stock worth $2,473,616. 1.83% of the stock is currently owned by company insiders.

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.

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

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