JPMorgan Chase & Co. Sells 977,754 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

JPMorgan Chase & Co. trimmed its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 29.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,376,974 shares of the real estate investment trust’s stock after selling 977,754 shares during the period. JPMorgan Chase & Co.’s holdings in First Industrial Realty Trust were worth $119,158,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FR. Rush Island Management LP bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at $60,848,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in First Industrial Realty Trust by 290.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock valued at $50,105,000 after purchasing an additional 665,920 shares during the last quarter. Prudential Financial Inc. increased its holdings in First Industrial Realty Trust by 194.5% in the fourth quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust’s stock valued at $41,564,000 after purchasing an additional 523,429 shares during the last quarter. Zimmer Partners LP acquired a new position in First Industrial Realty Trust in the third quarter valued at about $18,649,000. Finally, Vanguard Group Inc. boosted its holdings in First Industrial Realty Trust by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust’s stock worth $962,039,000 after buying an additional 304,589 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and upped their price target for the company from $52.00 to $59.00 in a research note 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. Robert W. Baird boosted their price target on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective for the company. Finally, Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Hold” and a consensus target price of $58.38.

First Industrial Realty Trust Price Performance

NYSE FR opened at $54.06 on Thursday. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month high of $58.17. The firm’s 50 day moving average is $55.11 and its 200-day moving average is $53.68. The company has a market capitalization of $7.16 billion, a PE ratio of 24.80 and a beta of 1.07. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate 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 fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.29%. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 81.65%.

First Industrial Realty Trust Company Profile

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.