Lasalle Investment Management Securities LLC Sells 132,782 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Lasalle Investment Management Securities LLC lessened its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 8.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,500,269 shares of the real estate investment trust’s stock after selling 132,782 shares during the quarter. First Industrial Realty Trust accounts for about 3.3% of Lasalle Investment Management Securities LLC’s holdings, making the stock its 10th biggest position. Lasalle Investment Management Securities LLC’s holdings in First Industrial Realty Trust were worth $78,824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FR. State of Michigan Retirement System increased its holdings in shares of First Industrial Realty Trust by 0.6% in the 4th quarter. State of Michigan Retirement System now owns 31,768 shares of the real estate investment trust’s stock valued at $1,673,000 after purchasing an additional 200 shares during the period. Vanderbilt University increased its holdings in shares of First Industrial Realty Trust by 6.7% in the 4th quarter. Vanderbilt University now owns 5,033 shares of the real estate investment trust’s stock valued at $265,000 after purchasing an additional 316 shares during the period. Cornercap Investment Counsel Inc. increased its holdings in shares of First Industrial Realty Trust by 1.8% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 20,912 shares of the real estate investment trust’s stock valued at $1,101,000 after purchasing an additional 363 shares during the period. CWM LLC increased its holdings in shares of First Industrial Realty Trust by 31.9% in the 4th quarter. CWM LLC now owns 1,613 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 390 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its holdings in shares of First Industrial Realty Trust by 7.0% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,177 shares of the real estate investment trust’s stock valued at $325,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada boosted their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday. Scotiabank lowered their price target on First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating for the company in a research note on Thursday, May 16th. Wedbush cut First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $59.00 to $49.00 in a research note on Thursday, April 25th. Finally, BNP Paribas assumed coverage on First Industrial Realty Trust in a research note on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 price target for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.18.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock traded down $1.20 during trading hours on Friday, reaching $53.80. 735,172 shares of the company were exchanged, compared to its average volume of 1,059,305. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 24.79 and a beta of 1.07. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average of $49.17 and a 200 day moving average of $50.33. First Industrial Realty Trust, Inc. has a 12 month low of $40.44 and a 12 month high of $55.92.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The business had revenue of $164.10 million for the quarter, compared to analyst estimates of $163.48 million. During the same quarter last year, the firm earned $0.61 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.61 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.75%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

About First Industrial Realty Trust

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.