Wolverine Asset Management LLC Sells 14,781 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Wolverine Asset Management LLC lessened its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 49.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,952 shares of the real estate investment trust’s stock after selling 14,781 shares during the period. Wolverine Asset Management LLC’s holdings in First Industrial Realty Trust were worth $750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FR. JPMorgan Chase & Co. grew its stake in First Industrial Realty Trust by 28.7% in the 3rd 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. Geode Capital Management LLC grew its stake in First Industrial Realty Trust by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock worth $138,214,000 after buying an additional 15,093 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in First Industrial Realty Trust by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock worth $122,182,000 after buying an additional 81,826 shares in the last quarter. Rush Island Management LP purchased a new position in First Industrial Realty Trust in the 3rd quarter worth approximately $60,848,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in First Industrial Realty Trust by 290.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock worth $50,105,000 after buying an additional 665,920 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Down 0.1 %

Shares of FR opened at $55.69 on Friday. The stock has a market capitalization of $7.37 billion, a P/E ratio of 25.55 and a beta of 1.09. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The firm has a fifty day simple moving average of $52.26 and a two-hundred day simple moving average of $53.64. First Industrial Realty Trust, Inc. has a twelve month low of $45.10 and a twelve month high of $57.35.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be issued a $0.445 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.20%. First Industrial Realty Trust’s dividend payout ratio is 81.65%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FR shares. Barclays cut their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Robert W. Baird upped their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective for the company. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and upped their price objective for the company from $52.00 to $59.00 in a research note on Friday. Finally, KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and an average target price of $58.31.

About First Industrial Realty Trust

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.