Starr International Co. Inc. Purchases Shares of 49,823 First Industrial Realty Trust, Inc. (NYSE:FR)

Starr International Co. Inc. bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 49,823 shares of the real estate investment trust’s stock, valued at approximately $1,762,000.

Several other institutional investors have also recently added to or reduced their stakes in FR. Legal & General Group Plc grew its position in First Industrial Realty Trust by 2.9% during the 3rd quarter. Legal & General Group Plc now owns 485,177 shares of the real estate investment trust’s stock worth $15,235,000 after purchasing an additional 13,639 shares during the last quarter. Bank of America Corp DE lifted its stake in First Industrial Realty Trust by 26.5% during the 4th quarter. Bank of America Corp DE now owns 760,120 shares of the real estate investment trust’s stock valued at $21,937,000 after acquiring an additional 159,415 shares during the period. Dupont Capital Management Corp lifted its stake in First Industrial Realty Trust by 172.0% during the 4th quarter. Dupont Capital Management Corp now owns 135,381 shares of the real estate investment trust’s stock valued at $3,907,000 after acquiring an additional 85,617 shares during the period. Vanguard Group Inc lifted its stake in First Industrial Realty Trust by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 18,681,684 shares of the real estate investment trust’s stock valued at $586,605,000 after acquiring an additional 215,720 shares during the period. Finally, Morgan Stanley lifted its stake in First Industrial Realty Trust by 9.3% during the 3rd quarter. Morgan Stanley now owns 580,131 shares of the real estate investment trust’s stock valued at $18,215,000 after acquiring an additional 49,248 shares during the period. Hedge funds and other institutional investors own 91.75% of the company’s stock.

Shares of FR traded up $0.04 during mid-day trading on Friday, hitting $34.62. 705,700 shares of the company’s stock were exchanged, compared to its average volume of 666,120. The stock has a market capitalization of $4.43 billion, a PE ratio of 21.64, a P/E/G ratio of 3.22 and a beta of 0.74. First Industrial Realty Trust, Inc. has a fifty-two week low of $27.30 and a fifty-two week high of $36.21. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.93 and a current ratio of 0.93.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). The firm had revenue of $104.50 million during the quarter, compared to analyst estimates of $104.68 million. First Industrial Realty Trust had a net margin of 36.88% and a return on equity of 9.05%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. On average, sell-side analysts predict that First Industrial Realty Trust, Inc. will post 1.7 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.92 annualized dividend and a yield of 2.66%. First Industrial Realty Trust’s dividend payout ratio is currently 57.50%.

A number of research firms have recently issued reports on FR. Zacks Investment Research raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Wednesday, February 20th. Goldman Sachs Group assumed coverage on shares of First Industrial Realty Trust in a report on Wednesday, May 15th. They set a “buy” rating and a $38.00 target price for the company. Mizuho reissued a “buy” rating and issued a $38.00 price objective on shares of First Industrial Realty Trust in a report on Wednesday, February 20th. Finally, SunTrust Banks reissued a “buy” rating and issued a $36.00 price objective on shares of First Industrial Realty Trust in a report on Wednesday, February 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.08.

In other First Industrial Realty Trust news, insider Johannson L. Yap sold 15,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $34.02, for a total value of $510,300.00. Following the transaction, the insider now directly owns 109,159 shares in the company, valued at $3,713,589.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.22% of the company’s stock.

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First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

Further Reading: Buy-Side Analysts

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

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