Convergence Investment Partners LLC Has $2.99 Million Stake in First Industrial Realty Trust, Inc. (FR)

Convergence Investment Partners LLC lifted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 51.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,995 shares of the real estate investment trust’s stock after acquiring an additional 32,236 shares during the quarter. Convergence Investment Partners LLC owned 0.08% of First Industrial Realty Trust worth $2,989,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in FR. Riverhead Capital Management LLC increased its position in shares of First Industrial Realty Trust by 77.8% during the second quarter. Riverhead Capital Management LLC now owns 6,224 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 2,724 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of First Industrial Realty Trust during the third quarter worth about $213,000. Shelton Capital Management purchased a new stake in shares of First Industrial Realty Trust during the second quarter worth about $233,000. Virtu KCG Holdings LLC increased its position in shares of First Industrial Realty Trust by 15.8% during the second quarter. Virtu KCG Holdings LLC now owns 10,323 shares of the real estate investment trust’s stock worth $295,000 after acquiring an additional 1,405 shares during the last quarter. Finally, First Capital Advisors Group LLC. purchased a new stake in shares of First Industrial Realty Trust during the third quarter worth about $307,000. 92.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of First Industrial Realty Trust, Inc. (NYSE FR) opened at $30.05 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $3,630.00, a PE ratio of 28.08 and a beta of 1.03. First Industrial Realty Trust, Inc. has a fifty-two week low of $25.31 and a fifty-two week high of $32.91.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.25. The firm had revenue of $99.30 million during the quarter, compared to analyst estimates of $98.38 million. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. First Industrial Realty Trust’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share. equities analysts anticipate that First Industrial Realty Trust, Inc. will post 1.55 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.80%. First Industrial Realty Trust’s payout ratio is currently 78.50%.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,854 shares of First Industrial Realty Trust stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $32.42, for a total value of $546,406.68. Following the completion of the transaction, the director now directly owns 866,966 shares in the company, valued at $28,107,037.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce W. Duncan sold 16,855 shares of First Industrial Realty Trust stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $31.73, for a total value of $534,809.15. Following the completion of the transaction, the director now owns 883,820 shares of the company’s stock, valued at $28,043,608.60. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

Several analysts recently weighed in on FR shares. Robert W. Baird reissued a “hold” rating and issued a $31.00 price objective on shares of First Industrial Realty Trust in a report on Tuesday, January 9th. Jefferies Group raised First Industrial Realty Trust from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. ValuEngine lowered First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. JPMorgan Chase & Co. lowered First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 price objective for the company. in a report on Friday, December 15th. Finally, SunTrust Banks reissued a “buy” rating and issued a $34.00 price objective on shares of First Industrial Realty Trust in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $32.29.

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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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