National Bank of Canada FI Cuts Position in First Industrial Realty Trust, Inc. (NYSE:FR)

National Bank of Canada FI cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 92.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 27,900 shares of the real estate investment trust’s stock after selling 322,200 shares during the period. National Bank of Canada FI’s holdings in First Industrial Realty Trust were worth $1,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Versant Capital Management Inc raised its position in First Industrial Realty Trust by 92.5% in the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 481 shares during the period. UMB Bank n.a. increased its stake in shares of First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 214 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of First Industrial Realty Trust by 200.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 747 shares during the period. Blue Trust Inc. lifted its stake in First Industrial Realty Trust by 30.7% in the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 292 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in First Industrial Realty Trust by 73.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 575 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $42.94 on Wednesday. First Industrial Realty Trust, Inc. has a 12-month low of $42.46 and a 12-month high of $58.17. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The company has a market cap of $5.68 billion, a PE ratio of 19.70 and a beta of 1.07. The stock has a 50-day moving average price of $54.35 and a 200-day moving average price of $53.32.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Monday, March 31st. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio is currently 81.65%.

Analyst Upgrades and Downgrades

FR has been the topic of several research reports. Robert W. Baird boosted their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Scotiabank dropped their price objective on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday. Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Finally, The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their target price for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $57.77.

First Industrial Realty Trust Company 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.