Cornercap Investment Counsel Inc. Sells 535 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Cornercap Investment Counsel Inc. cut its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 3.5% during the fourth quarter, HoldingsChannel reports. The firm 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its stake in shares of First Industrial Realty Trust by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 210 shares during the period. UMB Bank n.a. lifted its holdings in First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 214 shares in the last quarter. Principal Securities Inc. boosted its position in First Industrial Realty Trust by 9.3% in the 4th quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 269 shares during the period. Stifel Financial Corp grew its stake in First Industrial Realty Trust by 1.1% in the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock worth $1,450,000 after acquiring an additional 278 shares in the last quarter. Finally, Fortem Financial Group LLC increased its position in shares of First Industrial Realty Trust by 2.9% during the fourth quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust’s stock worth $517,000 after acquiring an additional 292 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

FR has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their price target for the company from $52.00 to $59.00 in a report on Friday, February 21st. Robert W. Baird increased 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, February 19th. Finally, Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Hold” and an average target price of $58.38.

First Industrial Realty Trust Stock Down 1.2 %

First Industrial Realty Trust stock opened at $53.60 on Friday. First Industrial Realty Trust, Inc. has a 1-year low of $45.10 and a 1-year high of $58.17. The business has a fifty day moving average price of $54.99 and a 200-day moving average price of $53.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The stock 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 issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping the consensus estimate 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%. Equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.32%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust’s payout ratio is presently 81.65%.

First Industrial Realty Trust 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.