Tributary Capital Management LLC Decreases Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Tributary Capital Management LLC lowered its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,390 shares of the real estate investment trust’s stock after selling 300 shares during the period. Tributary Capital Management LLC’s holdings in First Industrial Realty Trust were worth $441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FR. Mather Group LLC. purchased a new position in shares of First Industrial Realty Trust in the first quarter worth $50,000. EdgeRock Capital LLC purchased a new position in shares of First Industrial Realty Trust during the fourth quarter worth $56,000. C M Bidwell & Associates Ltd. raised its holdings in shares of First Industrial Realty Trust by 119.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in shares of First Industrial Realty Trust during the fourth quarter worth $82,000. Finally, CWM LLC raised its holdings in shares of First Industrial Realty Trust by 31.9% during the fourth quarter. CWM LLC now owns 1,613 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Up 0.7 %

Shares of NYSE FR opened at $47.47 on Wednesday. The company’s 50-day simple moving average is $47.07 and its 200-day simple moving average is $50.48. First Industrial Realty Trust, Inc. has a 52-week low of $40.44 and a 52-week high of $55.22. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 21.88 and a beta of 1.07. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.37 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.48 annualized dividend and a dividend yield of 3.12%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 68.20%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FR. Wedbush cut shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $59.00 to $49.00 in a report on Thursday, April 25th. Mizuho restated a “buy” rating and set a $58.00 price target on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. BNP Paribas initiated coverage on shares of First Industrial Realty Trust in a research report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price target on the stock. Barclays restated an “equal weight” rating and set a $53.00 price target (down previously from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Finally, Scotiabank dropped their price target on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.42.

About First Industrial Realty Trust

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.