First Industrial Realty Trust, Inc. (NYSE:FR) Short Interest Up 6.2% in August

First Industrial Realty Trust, Inc. (NYSE:FR) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 2,760,000 shares, an increase of 6.2% from the July 31st total of 2,600,000 shares. Based on an average daily trading volume, of 880,400 shares, the days-to-cover ratio is currently 3.1 days.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FR. Citigroup began coverage on shares of First Industrial Realty Trust in a report on Wednesday, July 19th. They issued a “neutral” rating and a $57.00 price objective on the stock. StockNews.com began coverage on shares of First Industrial Realty Trust in a report on Thursday, August 17th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Hold” and an average price target of $58.86.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank grew its position in First Industrial Realty Trust by 1.4% during the 1st quarter. Toronto Dominion Bank now owns 14,280 shares of the real estate investment trust’s stock worth $759,000 after purchasing an additional 198 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in First Industrial Realty Trust by 4.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,041 shares of the real estate investment trust’s stock worth $268,000 after purchasing an additional 217 shares during the last quarter. Quadrant Capital Group LLC grew its position in First Industrial Realty Trust by 12.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,171 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 232 shares during the last quarter. Inspire Investing LLC grew its position in First Industrial Realty Trust by 5.1% during the 1st quarter. Inspire Investing LLC now owns 5,138 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 250 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in First Industrial Realty Trust by 5.7% during the 2nd quarter. Lazard Asset Management LLC now owns 4,960 shares of the real estate investment trust’s stock worth $261,000 after purchasing an additional 268 shares during the last quarter. 98.36% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Up 0.4 %

Shares of NYSE FR traded up $0.19 during mid-day trading on Friday, reaching $52.13. The company had a trading volume of 265,273 shares, compared to its average volume of 839,954. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.85. The firm has a 50 day simple moving average of $52.13 and a two-hundred day simple moving average of $52.26. The stock has a market cap of $6.89 billion, a P/E ratio of 21.84 and a beta of 0.97. First Industrial Realty Trust has a 52-week low of $42.91 and a 52-week high of $55.51.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, September 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 53.56%.

First Industrial Realty Trust Company Profile

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.