Chartwell Investment Partners LLC Lowers Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Chartwell Investment Partners LLC trimmed its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 10.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 85,553 shares of the real estate investment trust’s stock after selling 9,571 shares during the quarter. Chartwell Investment Partners LLC’s holdings in First Industrial Realty Trust were worth $4,789,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FR. Wolverine Asset Management LLC raised its position in shares of First Industrial Realty Trust by 48.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 29,733 shares of the real estate investment trust’s stock worth $1,664,000 after acquiring an additional 9,733 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of First Industrial Realty Trust in the 3rd quarter worth $313,000. Covestor Ltd raised its position in shares of First Industrial Realty Trust by 188.7% in the 3rd quarter. Covestor Ltd now owns 1,484 shares of the real estate investment trust’s stock worth $83,000 after acquiring an additional 970 shares in the last quarter. Atria Investments Inc raised its position in shares of First Industrial Realty Trust by 10.3% in the 3rd quarter. Atria Investments Inc now owns 8,421 shares of the real estate investment trust’s stock worth $471,000 after acquiring an additional 783 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of First Industrial Realty Trust by 63,800.0% in the 3rd quarter. Assetmark Inc. now owns 3,195 shares of the real estate investment trust’s stock worth $179,000 after acquiring an additional 3,190 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on FR shares. Barclays upped their target price on First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group upped their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Friday, July 26th. Mizuho upped their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upped their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $57.92.

First Industrial Realty Trust Price Performance

FR stock opened at $53.39 on Tuesday. The business has a fifty day moving average of $54.97 and a two-hundred day moving average of $51.65. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of 22.91 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 52-week low of $42.38 and a 52-week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $164.01 million. During the same quarter last year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.77%. First Industrial Realty Trust’s dividend payout ratio is currently 63.52%.

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.