King Luther Capital Management Corp Sells 21,125 Shares of First Industrial Realty Trust, Inc. (FR)

King Luther Capital Management Corp lowered its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,025 shares of the real estate investment trust’s stock after selling 21,125 shares during the quarter. King Luther Capital Management Corp owned approximately 0.12% of First Industrial Realty Trust worth $4,243,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in First Industrial Realty Trust by 1.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 258,793 shares of the real estate investment trust’s stock valued at $7,406,000 after purchasing an additional 2,757 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in First Industrial Realty Trust during the 2nd quarter valued at $1,637,000. First Capital Advisors Group LLC. bought a new stake in First Industrial Realty Trust during the 3rd quarter valued at $307,000. Goldman Sachs Group Inc. raised its position in First Industrial Realty Trust by 3.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 740,025 shares of the real estate investment trust’s stock valued at $21,180,000 after purchasing an additional 26,649 shares in the last quarter. Finally, Legal & General Group Plc raised its position in First Industrial Realty Trust by 11.5% during the 2nd quarter. Legal & General Group Plc now owns 356,336 shares of the real estate investment trust’s stock valued at $10,197,000 after purchasing an additional 36,713 shares in the last quarter. Hedge funds and other institutional investors own 92.97% of the company’s stock.

FR has been the subject of a number of research analyst reports. Janney Montgomery Scott initiated coverage on First Industrial Realty Trust in a research report on Friday, September 29th. They set a “buy” rating and a $34.00 target price for the company. ValuEngine upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. SunTrust Banks reiterated a “buy” rating and issued a $34.00 price target on shares of First Industrial Realty Trust in a report on Friday, November 10th. Stifel Nicolaus lifted their price target on First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, November 6th. Finally, Jefferies Group reiterated a “hold” rating and issued a $34.00 price target on shares of First Industrial Realty Trust in a report on Friday, November 24th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. First Industrial Realty Trust has an average rating of “Buy” and an average price target of $32.00.

In other news, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $30.85, for a total value of $519,976.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 50,565 shares of company stock valued at $1,585,718. Insiders own 1.71% of the company’s stock.

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) opened at $31.85 on Thursday. First Industrial Realty Trust, Inc. has a 52-week low of $25.31 and a 52-week high of $32.91. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $3,814.73, a PE ratio of 20.67 and a beta of 1.02.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The company had revenue of $99.30 million during the quarter, compared to analysts’ expectations of $98.38 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. equities analysts forecast that First Industrial Realty Trust, Inc. will post 1.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.84 annualized dividend and a dividend yield of 2.64%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 78.50%.

TRADEMARK VIOLATION NOTICE: “King Luther Capital Management Corp Sells 21,125 Shares of First Industrial Realty Trust, Inc. (FR)” was first reported by Stock Observer and is the sole property of of Stock Observer. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.thestockobserver.com/2017/12/07/king-luther-capital-management-corp-sells-21125-shares-of-first-industrial-realty-trust-inc-fr.html.

First Industrial Realty Trust Company 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.

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

Receive News & Ratings for First Industrial Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply