Mirae Asset Global Investments Co. Ltd. Sells 1,444 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Mirae Asset Global Investments Co. Ltd. decreased its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 28.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,693 shares of the real estate investment trust’s stock after selling 1,444 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in First Industrial Realty Trust were worth $186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of FR. Sanctuary Advisors LLC bought a new stake in shares of First Industrial Realty Trust in the second quarter valued at approximately $271,000. GAMMA Investing LLC lifted its position in First Industrial Realty Trust by 132.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,103 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 629 shares in the last quarter. Creative Planning purchased a new stake in First Industrial Realty Trust in the 3rd quarter valued at about $258,000. Kapitalo Investimentos Ltda purchased a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $253,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in First Industrial Realty Trust by 7.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 24,659 shares of the real estate investment trust’s stock valued at $1,380,000 after buying an additional 1,751 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

FR opened at $55.88 on Friday. The firm’s 50-day moving average price is $51.77 and its 200-day moving average price is $53.55. The company has a market cap of $7.40 billion, a P/E ratio of 25.63 and a beta of 1.09. First Industrial Realty Trust, Inc. has a 52-week low of $45.10 and a 52-week high of $57.35. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 81.65%.

Analyst Ratings Changes

A number of research firms have recently issued reports on FR. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective on the stock. Finally, Barclays reduced their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.38.

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.