Cornercap Investment Counsel Inc. Lowers Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Cornercap Investment Counsel Inc. reduced its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,672 shares of the real estate investment trust’s stock after selling 535 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in First Industrial Realty Trust were worth $736,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Howard Capital Management Group LLC purchased a new stake in First Industrial Realty Trust during the 3rd quarter valued at about $206,000. Cerity Partners LLC purchased a new stake in shares of First Industrial Realty Trust during the third quarter valued at approximately $496,000. FMR LLC grew its holdings in shares of First Industrial Realty Trust by 6.2% during the third quarter. FMR LLC now owns 326,754 shares of the real estate investment trust’s stock valued at $18,292,000 after buying an additional 18,958 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of First Industrial Realty Trust by 77.9% during the third quarter. BNP Paribas Financial Markets now owns 121,655 shares of the real estate investment trust’s stock valued at $6,810,000 after acquiring an additional 53,266 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in First Industrial Realty Trust by 2.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,841 shares of the real estate investment trust’s stock worth $4,022,000 after acquiring an additional 1,462 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Down 1.2 %

Shares of FR stock opened at $53.60 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. First Industrial Realty Trust, Inc. has a one year low of $45.10 and a one year high of $58.17. The company’s fifty day moving average price is $54.99 and its 200-day moving average price is $53.72. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 24.59 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal 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 dividend of $0.445 per share. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is 81.65%.

Analysts Set New Price Targets

Several brokerages have commented on FR. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price on the stock. Barclays reaffirmed a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price target for the company from $52.00 to $59.00 in a report on Friday, February 21st. Finally, Robert W. Baird boosted 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 report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Hold” and a consensus price target of $58.38.

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.