Insider Selling: First Industrial Realty Trust, Inc. (FR) Director Sells 15,000 Shares of Stock

First Industrial Realty Trust, Inc. (NYSE:FR) Director H Patrick Hackett, Jr. sold 15,000 shares of the company’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $31.38, for a total transaction of $470,700.00. Following the transaction, the director now owns 37,577 shares in the company, valued at $1,179,166.26. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of FR stock opened at $30.89 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.31 and a quick ratio of 1.53. The stock has a market capitalization of $3.90 billion, a PE ratio of 19.55 and a beta of 0.62. First Industrial Realty Trust, Inc. has a one year low of $27.61 and a one year high of $34.04.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The company had revenue of $100.26 million during the quarter, compared to analysts’ expectations of $99.74 million. First Industrial Realty Trust had a return on equity of 13.40% and a net margin of 52.47%. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 1.59 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a $0.218 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.87 dividend on an annualized basis and a dividend yield of 2.82%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 55.41%.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of First Industrial Realty Trust by 0.9% in the 2nd quarter. BlackRock Inc. now owns 18,695,164 shares of the real estate investment trust’s stock valued at $623,296,000 after acquiring an additional 169,975 shares during the last quarter. Principal Financial Group Inc. increased its stake in First Industrial Realty Trust by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,102,838 shares of the real estate investment trust’s stock worth $119,926,000 after purchasing an additional 99,375 shares in the last quarter. Northern Trust Corp increased its stake in First Industrial Realty Trust by 2.7% during the 2nd quarter. Northern Trust Corp now owns 3,552,863 shares of the real estate investment trust’s stock worth $118,452,000 after purchasing an additional 93,396 shares in the last quarter. Renaissance Technologies LLC increased its stake in First Industrial Realty Trust by 4.7% during the 2nd quarter. Renaissance Technologies LLC now owns 3,112,500 shares of the real estate investment trust’s stock worth $103,771,000 after purchasing an additional 141,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in First Industrial Realty Trust by 7.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,450,435 shares of the real estate investment trust’s stock worth $81,697,000 after purchasing an additional 161,037 shares in the last quarter. 94.28% of the stock is owned by institutional investors.

A number of research analysts have issued reports on FR shares. ValuEngine upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Friday, October 26th. SunTrust Banks set a $35.00 target price on shares of First Industrial Realty Trust and gave the company a “buy” rating in a research report on Tuesday, August 7th. Jefferies Financial Group cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Zacks Investment Research cut First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on First Industrial Realty Trust from $30.00 to $34.00 and gave the company an “underweight” rating in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. First Industrial Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $33.67.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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Insider Buying and Selling by Quarter for First Industrial Realty Trust (NYSE:FR)

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