Alliancebernstein L.P. Sells 36,690 Shares of First Industrial Realty Trust, Inc. (FR)

Alliancebernstein L.P. lowered its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 10.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 328,953 shares of the real estate investment trust’s stock after selling 36,690 shares during the quarter. Alliancebernstein L.P.’s holdings in First Industrial Realty Trust were worth $10,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. bought a new position in First Industrial Realty Trust during the 3rd quarter worth $213,000. Lourd Capital LLC bought a new position in shares of First Industrial Realty Trust in the 4th quarter valued at $244,000. OppenheimerFunds Inc. bought a new position in shares of First Industrial Realty Trust in the 4th quarter valued at $246,000. HRT Financial LLC bought a new position in shares of First Industrial Realty Trust in the 4th quarter valued at $318,000. Finally, Clarus Wealth Advisors bought a new position in shares of First Industrial Realty Trust in the 4th quarter valued at $370,000. Institutional investors own 94.10% of the company’s stock.

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Several brokerages have recently issued reports on FR. JPMorgan Chase & Co. lowered First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 price target on the stock. in a research note on Friday, December 15th. ValuEngine lowered First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Jefferies Group upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Robert W. Baird reiterated a “hold” rating and issued a $31.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, January 9th. Finally, Stifel Nicolaus decreased their price target on First Industrial Realty Trust from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $33.17.

In related news, CIO Johannson L. Yap sold 6,600 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $28.54, for a total transaction of $188,364.00. Following the sale, the executive now owns 292,033 shares of the company’s stock, valued at approximately $8,334,621.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.71% of the company’s stock.

Shares of First Industrial Realty Trust stock opened at $28.42 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust, Inc. has a twelve month low of $25.81 and a twelve month high of $32.91. The firm has a market capitalization of $3,482.45, a price-to-earnings ratio of 16.92 and a beta of 0.96.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. First Industrial Realty Trust had a return on equity of 14.57% and a net margin of 50.82%. The company had revenue of $102.31 million for the quarter, compared to the consensus estimate of $100.11 million. During the same quarter last year, the business posted $0.38 EPS. First Industrial Realty Trust’s revenue for the quarter was up 4.4% on a year-over-year basis. research analysts forecast that First Industrial Realty Trust, Inc. will post 1.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a dividend of $0.218 per share. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, March 28th. This represents a $0.87 annualized dividend and a dividend yield of 3.07%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 50.00%.

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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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