State of Tennessee Treasury Department Has $4,293,000 Position in First Industrial Realty Trust, Inc. (FR)

State of Tennessee Treasury Department continued to hold its stake in First Industrial Realty Trust, Inc. (NYSE:FR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the real estate investment trust’s stock at the end of the second quarter. State of Tennessee Treasury Department owned approximately 0.13% of First Industrial Realty Trust worth $4,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. raised its stake in First Industrial Realty Trust by 11,371.8% during the second quarter. Sei Investments Co. now owns 102,902 shares of the real estate investment trust’s stock worth $2,945,000 after buying an additional 102,005 shares during the last quarter. SG Americas Securities LLC increased its stake in First Industrial Realty Trust by 146.3% in the first quarter. SG Americas Securities LLC now owns 20,486 shares of the real estate investment trust’s stock valued at $546,000 after purchasing an additional 12,167 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in First Industrial Realty Trust by 30.9% in the first quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 2,100 shares in the last quarter. Prudential Financial Inc. increased its stake in First Industrial Realty Trust by 1,347.8% in the first quarter. Prudential Financial Inc. now owns 1,305,419 shares of the real estate investment trust’s stock valued at $34,764,000 after purchasing an additional 1,215,251 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its stake in First Industrial Realty Trust by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 6,732 shares of the real estate investment trust’s stock valued at $179,000 after purchasing an additional 612 shares in the last quarter. 92.39% of the stock is owned by institutional investors and hedge funds.

In related news, EVP David Harker sold 20,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $30.45, for a total value of $609,000.00. Following the completion of the transaction, the executive vice president now directly owns 118,470 shares in the company, valued at approximately $3,607,411.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bruce W. Duncan sold 15,146 shares of the stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $28.68, for a total transaction of $434,387.28. Following the completion of the transaction, the director now owns 949,531 shares of the company’s stock, valued at $27,232,549.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,424 shares of company stock valued at $2,473,616. 1.83% of the stock is owned by company insiders.

First Industrial Realty Trust, Inc. (NYSE:FR) opened at 31.34 on Wednesday. The stock’s 50 day moving average is $30.45 and its 200-day moving average is $28.67. The firm has a market capitalization of $3.76 billion, a PE ratio of 31.91 and a beta of 1.00. First Industrial Realty Trust, Inc. has a one year low of $24.85 and a one year high of $31.83.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.18. The company had revenue of $97.60 million during the quarter, compared to analyst estimates of $97.62 million. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. First Industrial Realty Trust’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. On average, analysts anticipate that First Industrial Realty Trust, Inc. will post $0.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.84 annualized dividend and a dividend yield of 2.68%. First Industrial Realty Trust’s payout ratio is 85.71%.

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Several equities research analysts have weighed in on the stock. BidaskClub downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. KeyCorp reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a research note on Friday, August 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $30.00 price target (up from $29.00) on shares of First Industrial Realty Trust in a research note on Sunday, June 25th. Stifel Nicolaus lifted their price target on shares of First Industrial Realty Trust from $30.00 to $31.50 and gave the company a “buy” rating in a research note on Wednesday, June 14th. Finally, Zacks Investment Research downgraded shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. First Industrial Realty Trust has a consensus rating of “Hold” and an average price target of $30.60.

First Industrial Realty Trust Profile

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.

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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