Goldman Sachs Group Inc. Sells 309,228 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Goldman Sachs Group Inc. lowered its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 30.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 713,376 shares of the real estate investment trust’s stock after selling 309,228 shares during the period. Goldman Sachs Group Inc. owned about 0.61% of First Industrial Realty Trust worth $18,998,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FR. Dimensional Fund Advisors LP increased its position in shares of First Industrial Realty Trust by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,547,073 shares of the real estate investment trust’s stock worth $43,395,000 after buying an additional 9,661 shares during the period. Renaissance Technologies LLC purchased a new position in shares of First Industrial Realty Trust during the fourth quarter worth $236,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of First Industrial Realty Trust by 163.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,589 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 5,328 shares during the period. Norges Bank purchased a new position in shares of First Industrial Realty Trust during the fourth quarter worth $31,942,000. Finally, Teachers Advisors LLC increased its position in shares of First Industrial Realty Trust by 7.7% in the fourth quarter. Teachers Advisors LLC now owns 899,191 shares of the real estate investment trust’s stock worth $25,222,000 after buying an additional 63,990 shares during the period. Institutional investors own 91.81% of the company’s stock.

First Industrial Realty Trust, Inc. (FR) traded up 0.03% during mid-day trading on Tuesday, hitting $30.00. 603,111 shares of the stock were exchanged. First Industrial Realty Trust, Inc. has a one year low of $24.85 and a one year high of $31.14. The company has a market cap of $3.60 billion, a P/E ratio of 30.55 and a beta of 1.00. The company has a 50-day moving average price of $29.36 and a 200-day moving average price of $27.95.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.18. The company had revenue of $97.60 million during the quarter, compared to analysts’ expectations of $97.62 million. First Industrial Realty Trust had a net margin of 29.91% and a return on equity of 8.88%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. Analysts forecast that First Industrial Realty Trust, Inc. will post $0.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, September 28th. First Industrial Realty Trust’s payout ratio is currently 85.71%.

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A number of brokerages have weighed in on FR. BidaskClub downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $29.00 price objective on shares of First Industrial Realty Trust in a research report on Monday, April 24th. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, May 2nd. Finally, Stifel Nicolaus upped their price objective on shares of First Industrial Realty Trust from $30.00 to $31.50 and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. First Industrial Realty Trust has an average rating of “Hold” and an average target price of $30.20.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 17,157 shares of First Industrial Realty Trust stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $27.71, for a total transaction of $475,420.47. Following the completion of the transaction, the director now owns 978,159 shares in the company, valued at $27,104,785.89. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Scott A. Musil sold 20,000 shares of First Industrial Realty Trust stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $30.22, for a total transaction of $604,400.00. Following the transaction, the chief financial officer now owns 107,273 shares of the company’s stock, valued at approximately $3,241,790.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,435 shares of company stock valued at $1,883,385. 1.83% of the stock is currently owned by company insiders.

About First Industrial Realty Trust

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)

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