Pacad Investment Ltd. Boosts Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Pacad Investment Ltd. raised its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 554.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,400 shares of the real estate investment trust’s stock after buying an additional 12,200 shares during the period. Pacad Investment Ltd.’s holdings in First Industrial Realty Trust were worth $412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in FR. IFP Advisors Inc increased its stake in First Industrial Realty Trust by 5.2% in the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 190 shares during the period. Glen Harbor Capital Management LLC boosted its holdings in shares of First Industrial Realty Trust by 10.0% in the first quarter. Glen Harbor Capital Management LLC now owns 4,356 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 396 shares in the last quarter. First Mercantile Trust Co. boosted its holdings in shares of First Industrial Realty Trust by 1.8% in the second quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 70 shares in the last quarter. Elkfork Partners LLC boosted its holdings in shares of First Industrial Realty Trust by 10.0% in the first quarter. Elkfork Partners LLC now owns 5,544 shares of the real estate investment trust’s stock valued at $148,000 after acquiring an additional 504 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its holdings in shares of First Industrial Realty Trust by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 6,732 shares of the real estate investment trust’s stock valued at $179,000 after acquiring an additional 612 shares in the last quarter. Institutional investors and hedge funds own 92.39% of the company’s stock.

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A number of analysts recently commented on the stock. KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a report on Friday, August 25th. Stifel Nicolaus restated a “buy” rating and set a $31.50 target price on shares of First Industrial Realty Trust in a research report on Friday, July 14th. Zacks Investment Research raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $32.00 price target (up previously from $30.00) on shares of First Industrial Realty Trust in a research report on Thursday, August 24th. Finally, BidaskClub raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. First Industrial Realty Trust has an average rating of “Hold” and a consensus price target of $30.60.

In other First Industrial Realty Trust news, CFO Scott A. Musil sold 20,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $30.22, for a total value of $604,400.00. Following the transaction, the chief financial officer now directly owns 107,273 shares of the company’s stock, valued at approximately $3,241,790.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Peter Schultz sold 12,132 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $30.43, for a total value of $369,176.76. Following the completion of the transaction, the executive vice president now directly owns 109,399 shares in the company, valued at $3,329,011.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,424 shares of company stock worth $2,473,616. 1.83% of the stock is owned by company insiders.

First Industrial Realty Trust, Inc. (NYSE:FR) traded down 1.58% on Friday, reaching $31.13. 343,481 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $30.57 and a 200 day moving average of $28.74. The stock has a market capitalization of $3.73 billion, a PE ratio of 31.70 and a beta of 1.00. First Industrial Realty Trust, Inc. has a 12 month low of $24.85 and a 12 month high of $31.83.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, September 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 85.71%.

First Industrial Realty Trust 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)

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