Amalgamated Bank Sells 3,186 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Amalgamated Bank decreased its position in First Industrial Realty Trust, Inc. (NYSE:FRGet Rating) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,953 shares of the real estate investment trust’s stock after selling 3,186 shares during the quarter. Amalgamated Bank owned approximately 0.07% of First Industrial Realty Trust worth $5,693,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Advisory LLC bought a new position in First Industrial Realty Trust during the fourth quarter valued at about $33,000. Brown Brothers Harriman & Co. bought a new position in First Industrial Realty Trust during the first quarter valued at about $46,000. Lazard Asset Management LLC grew its position in First Industrial Realty Trust by 99.1% during the first quarter. Lazard Asset Management LLC now owns 1,396 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 695 shares during the period. Covestor Ltd grew its position in First Industrial Realty Trust by 96.3% during the first quarter. Covestor Ltd now owns 1,790 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 878 shares during the period. Finally, First Manhattan Co. bought a new position in First Industrial Realty Trust during the first quarter valued at about $151,000. Institutional investors own 94.81% of the company’s stock.

First Industrial Realty Trust Trading Down 0.7 %

Shares of First Industrial Realty Trust stock opened at $50.07 on Tuesday. First Industrial Realty Trust, Inc. has a 12-month low of $45.79 and a 12-month high of $66.74. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 21.31 and a beta of 0.95. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $51.55 and its 200-day moving average price is $53.99.

First Industrial Realty Trust (NYSE:FRGet Rating) last announced its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.35. The business had revenue of $130.00 million for the quarter, compared to the consensus estimate of $127.55 million. First Industrial Realty Trust had a net margin of 62.25% and a return on equity of 13.84%. First Industrial Realty Trust’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. On average, equities analysts expect that First Industrial Realty Trust, Inc. will post 2.2 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, September 29th. First Industrial Realty Trust’s dividend payout ratio is currently 50.21%.

Wall Street Analyst Weigh In

Several research firms have commented on FR. Robert W. Baird upped their price objective on shares of First Industrial Realty Trust from $69.00 to $75.00 in a report on Friday, July 22nd. Jefferies Financial Group dropped their price objective on shares of First Industrial Realty Trust from $62.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Finally, The Goldman Sachs Group dropped their price objective on shares of First Industrial Realty Trust from $70.00 to $61.00 and set a “neutral” rating on the stock in a report on Thursday, June 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.14.

First Industrial Realty Trust Company Profile

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First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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