Guggenheim Capital LLC Lowers Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Guggenheim Capital LLC trimmed its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 79.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,497 shares of the real estate investment trust’s stock after selling 29,599 shares during the period. Guggenheim Capital LLC’s holdings in First Industrial Realty Trust were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in FR. Invesco Ltd. lifted its position in shares of First Industrial Realty Trust by 80.2% in the fourth quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock valued at $214,401,000 after acquiring an additional 1,903,164 shares in the last quarter. Norges Bank purchased a new stake in shares of First Industrial Realty Trust in the fourth quarter worth about $90,489,000. JPMorgan Chase & Co. lifted its position in shares of First Industrial Realty Trust by 28.7% in the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after buying an additional 747,101 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of First Industrial Realty Trust by 194.5% in the fourth quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust’s stock worth $41,564,000 after buying an additional 523,429 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of First Industrial Realty Trust by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust’s stock worth $962,039,000 after buying an additional 304,589 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

FR opened at $47.29 on Monday. The business’s 50-day moving average is $52.06 and its two-hundred day moving average is $52.48. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The firm has a market capitalization of $6.26 billion, a PE ratio of 21.69 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The company had revenue of $177.07 million during the quarter, compared to analysts’ expectations of $176.98 million. Research analysts anticipate 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 business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were paid a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.76%. The ex-dividend date was Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s payout ratio is 88.12%.

Analyst Upgrades and Downgrades

FR has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their target price on First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective on the stock. Robert W. Baird upped their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Scotiabank decreased their price objective on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Finally, Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.83.

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.