Convergence Investment Partners LLC Trims Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Convergence Investment Partners LLC decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 31.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,941 shares of the real estate investment trust’s stock after selling 1,848 shares during the period. Convergence Investment Partners LLC’s holdings in First Industrial Realty Trust were worth $156,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. SRS Capital Advisors Inc. purchased a new position in shares of First Industrial Realty Trust during the 2nd quarter worth approximately $35,000. C M Bidwell & Associates Ltd. purchased a new position in shares of First Industrial Realty Trust during the 2nd quarter worth approximately $51,000. Point72 Hong Kong Ltd grew its holdings in shares of First Industrial Realty Trust by 848.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,660 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 1,485 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of First Industrial Realty Trust by 46.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,234 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 708 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of First Industrial Realty Trust by 11.5% in the 2nd quarter. Assetmark Inc. now owns 4,993 shares of the real estate investment trust’s stock worth $183,000 after buying an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 94.42% of the company’s stock.

First Industrial Realty Trust stock opened at $41.31 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $5.13 billion, a P/E ratio of 25.82, a PEG ratio of 3.69 and a beta of 0.70. The stock’s 50 day moving average is $39.56 and its 200 day moving average is $37.33. First Industrial Realty Trust, Inc. has a twelve month low of $27.30 and a twelve month high of $41.44.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.19. The company had revenue of $106.59 million for the quarter, compared to the consensus estimate of $106.81 million. First Industrial Realty Trust had a return on equity of 11.52% and a net margin of 45.86%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. As a group, equities analysts expect that First Industrial Realty Trust, Inc. will post 1.71 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, September 30th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.92 annualized dividend and a dividend yield of 2.23%. First Industrial Realty Trust’s payout ratio is currently 57.50%.

Several analysts recently weighed in on the company. ValuEngine downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $33.10.

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.

Featured Story: Cost of Capital

Want to see what other hedge funds are holding FR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Industrial Realty Trust, Inc. (NYSE:FR).

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

Receive News & Ratings for First Industrial Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.