Bank of Montreal Can Decreases Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Bank of Montreal Can lessened its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,020 shares of the real estate investment trust’s stock after selling 6,705 shares during the quarter. Bank of Montreal Can owned about 0.06% of First Industrial Realty Trust worth $3,911,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FR. Synovus Financial Corp lifted its holdings in First Industrial Realty Trust by 96.3% in the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock valued at $1,588,000 after acquiring an additional 13,922 shares during the period. Franklin Resources Inc. increased its position in shares of First Industrial Realty Trust by 42.9% during the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock valued at $10,546,000 after purchasing an additional 58,088 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of First Industrial Realty Trust in the 4th quarter worth approximately $1,463,000. JPMorgan Chase & Co. boosted its holdings in shares of First Industrial Realty Trust by 28.7% in the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after buying an additional 747,101 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in First Industrial Realty Trust by 13.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 331 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FR. Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Robert W. Baird upped their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Scotiabank lowered their price objective on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Finally, The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $52.00 to $59.00 in a research note on Friday, February 21st. One investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $57.77.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $46.58 on Wednesday. The firm has a market cap of $6.17 billion, a PE ratio of 21.36 and a beta of 1.07. The stock has a 50 day moving average of $53.42 and a 200 day moving average of $52.92. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. On average, research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.82%. This is a boost 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 is currently 81.65%.

First Industrial Realty Trust 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.