Sterling Capital Management LLC Has $19,891,000 Position in First Industrial Realty Trust, Inc. (FR)

Sterling Capital Management LLC continued to hold its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 695,000 shares of the real estate investment trust’s stock at the end of the second quarter. Sterling Capital Management LLC owned about 0.58% of First Industrial Realty Trust worth $19,891,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FR. IFP Advisors Inc boosted its holdings in First Industrial Realty Trust by 5.2% in the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 190 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in First Industrial Realty Trust by 1.8% in the second quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 70 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in First Industrial Realty Trust by 77.8% in the second quarter. Riverhead Capital Management LLC now owns 6,224 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 2,724 shares during the last quarter. HighTower Advisors LLC purchased a new stake in First Industrial Realty Trust in the first quarter valued at $201,000. Finally, World Asset Management Inc purchased a new stake in First Industrial Realty Trust in the second quarter valued at $212,000. 92.07% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have commented on FR. Jefferies Group LLC reaffirmed a “neutral” rating on shares of First Industrial Realty Trust in a report on Tuesday, September 26th. Zacks Investment Research raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, July 31st. KeyCorp reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a report on Friday, August 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 price target on shares of First Industrial Realty Trust in a report on Friday, July 28th. Finally, Janney Montgomery Scott began coverage on shares of First Industrial Realty Trust in a report on Friday, September 29th. They issued a “buy” rating and a $34.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. First Industrial Realty Trust presently has an average rating of “Hold” and an average price target of $31.00.

In other news, EVP Peter Schultz sold 12,132 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $30.43, for a total transaction of $369,176.76. Following the transaction, the executive vice president now directly owns 109,399 shares in the company, valued at $3,329,011.57. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Scott A. Musil sold 20,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $30.22, for a total transaction of $604,400.00. Following the transaction, the chief financial officer now owns 107,273 shares in the company, valued at $3,241,790.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,133 shares of company stock worth $2,570,161. Company insiders own 1.83% of the company’s stock.

First Industrial Realty Trust, Inc. (NYSE:FR) traded up 0.595% during midday trading on Friday, reaching $31.275. 145,704 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $30.89 and its 200-day moving average price is $29.35. First Industrial Realty Trust, Inc. has a 1-year low of $24.85 and a 1-year high of $31.83. The company has a market capitalization of $3.75 billion, a PE ratio of 31.848 and a beta of 1.00.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.18. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The business had revenue of $97.60 million for the quarter, compared to analyst estimates of $97.62 million. During the same period in the previous year, the business posted $0.36 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that First Industrial Realty Trust, Inc. will post $0.83 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.70%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 85.71%.

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First Industrial Realty Trust Company Profile

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.

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

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