PNC Financial Services Group Inc. Buys 1,345 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

PNC Financial Services Group Inc. raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 10.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,701 shares of the real estate investment trust’s stock after acquiring an additional 1,345 shares during the quarter. PNC Financial Services Group Inc.’s holdings in First Industrial Realty Trust were worth $714,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. bought a new position in First Industrial Realty Trust in the 3rd quarter valued at approximately $36,000. Benjamin F. Edwards & Company Inc. raised its holdings in First Industrial Realty Trust by 109.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 949 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 495 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in First Industrial Realty Trust by 97.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,165 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 576 shares during the last quarter. Dark Forest Capital Management LP bought a new position in First Industrial Realty Trust in the 2nd quarter valued at approximately $75,000. Finally, Berman Capital Advisors LLC raised its holdings in First Industrial Realty Trust by 20.9% in the 3rd quarter. Berman Capital Advisors LLC now owns 1,589 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 275 shares during the last quarter. 93.35% of the stock is owned by hedge funds and other institutional investors.

In related news, CIO Johannson L. Yap sold 10,000 shares of First Industrial Realty Trust stock in a transaction on Friday, December 17th. The shares were sold at an average price of $64.12, for a total value of $641,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.29% of the company’s stock.

Shares of FR stock opened at $62.41 on Friday. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 33.55 and a beta of 0.90. First Industrial Realty Trust, Inc. has a 52 week low of $40.08 and a 52 week high of $66.74. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $62.56 and a 200-day moving average of $57.64.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Tuesday, October 19th. The real estate investment trust reported $0.33 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.16). First Industrial Realty Trust had a return on equity of 12.01% and a net margin of 51.46%. The company had revenue of $121.08 million for the quarter, compared to analyst estimates of $117.95 million. During the same period last year, the business earned $0.49 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts anticipate that First Industrial Realty Trust, Inc. will post 1.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 18th. Investors of record on Friday, December 31st will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, December 30th. First Industrial Realty Trust’s payout ratio is currently 58.06%.

FR has been the subject of a number of research reports. Royal Bank of Canada raised their price objective on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 8th. Zacks Investment Research raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Tuesday. TD Securities raised shares of First Industrial Realty Trust to a “buy” rating and decreased their target price for the company from $19.50 to $18.00 in a research report on Tuesday, December 7th. BMO Capital Markets decreased their target price on shares of First Industrial Realty Trust from $13.75 to $13.25 and set a “market perform” rating for the company in a research report on Friday, December 3rd. Finally, Mizuho downgraded shares of First Industrial Realty Trust from a “buy” rating to a “neutral” rating and increased their target price for the company from $54.00 to $64.00 in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Buy” and an average target price of $53.44.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc operates as a real estate investment trust. It engages in the ownership, management, acquisition, sale, development and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties.

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

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