First Industrial Realty Trust, Inc. (FR) Holding Boosted by Piermont Capital Management Inc.

First Industrial Realty Trust, Inc. (FR) Holding Boosted by Piermont Capital Management Inc.

Piermont Capital Management Inc. increased its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 8.8% during the first quarter, Holdings Channel reports. The fund owned 27,120 shares of the real estate investment trust’s stock after buying an additional 2,200 shares during the period. Piermont Capital Management Inc.’s holdings in First Industrial Realty Trust were worth $722,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in First Industrial Realty Trust during the fourth quarter worth about $109,000. Glen Harbor Capital Management LLC increased its stake in 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 worth $116,000 after buying an additional 396 shares in the last quarter. Elkfork Partners LLC acquired a new stake in First Industrial Realty Trust during the fourth quarter worth about $141,000. Meadow Creek Investment Management LLC increased its stake in 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 worth $179,000 after buying an additional 612 shares in the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in First Industrial Realty Trust during the fourth quarter worth about $180,000. 97.32% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust, Inc. (FR) traded down 0.57% during mid-day trading on Monday, reaching $29.58. 308,174 shares of the company’s stock were exchanged. First Industrial Realty Trust, Inc. has a 52-week low of $24.84 and a 52-week high of $29.83. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 27.04 and a beta of 0.96. The company has a 50-day moving average of $28.32 and a 200-day moving average of $27.25.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $97.38 million for the quarter, compared to the consensus estimate of $97.31 million. First Industrial Realty Trust had a return on equity of 11.92% and a net margin of 37.72%. First Industrial Realty Trust’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. Equities research analysts anticipate that First Industrial Realty Trust, Inc. will post $0.62 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.84%. First Industrial Realty Trust’s dividend payout ratio is presently 61.79%.

FR has been the subject of a number of recent research reports. Zacks Investment Research raised 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 report on Tuesday, May 2nd. Jefferies Group LLC reissued a “hold” rating and issued a $29.00 price objective on shares of First Industrial Realty Trust in a report on Monday, April 24th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $28.00 price objective on shares of First Industrial Realty Trust in a report on Wednesday, March 22nd.

In other First Industrial Realty Trust news, insider Johannson L. Yap sold 18,000 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $28.18, for a total transaction of $507,240.00. Following the completion of the transaction, the insider now owns 296,002 shares in the company, valued at $8,341,336.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce W. Duncan sold 17,157 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $27.71, for a total transaction of $475,420.47. Following the transaction, the director now owns 978,159 shares of the company’s stock, valued at approximately $27,104,785.89. The disclosure for this sale can be found here. Insiders have sold 52,313 shares of company stock valued at $1,460,284 in the last quarter. Company insiders own 1.83% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “FR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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