Zacks Investment Research cut shares of First Industrial Realty Trust (NYSE:FR) from a buy rating to a hold rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “FIRST INDUSTRIAL REALTY TRUST is a self-administered and fully integrated industrial real estate company which owns, mamages, acquires and develops industrial real estste. “

Separately, Goldman Sachs Group began coverage on shares of First Industrial Realty Trust in a research report on Wednesday, May 15th. They set a buy rating and a $38.00 price objective on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $32.70.

First Industrial Realty Trust stock traded up $0.04 during mid-day trading on Thursday, hitting $39.07. The company’s stock had a trading volume of 16,726 shares, compared to its average volume of 637,174. 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 stock has a market capitalization of $4.88 billion, a P/E ratio of 24.39, a P/E/G ratio of 3.51 and a beta of 0.72. First Industrial Realty Trust has a twelve month low of $27.30 and a twelve month high of $39.63. The stock’s fifty day moving average price is $38.40 and its two-hundred day moving average price is $36.26.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.11). The business had revenue of $104.10 million during the quarter, compared to analyst estimates of $105.62 million. First Industrial Realty Trust had a return on equity of 8.70% and a net margin of 35.11%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. Equities analysts expect that First Industrial Realty Trust will post 1.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, September 27th. First Industrial Realty Trust’s payout ratio is 57.50%.

Several institutional investors have recently bought and sold shares of FR. BlackRock Inc. grew its holdings in shares of First Industrial Realty Trust by 10.3% during the 1st quarter. BlackRock Inc. now owns 21,236,093 shares of the real estate investment trust’s stock valued at $750,907,000 after acquiring an additional 1,981,659 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of First Industrial Realty Trust by 99.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,233,734 shares of the real estate investment trust’s stock valued at $82,068,000 after acquiring an additional 1,112,920 shares in the last quarter. Invesco Ltd. grew its holdings in shares of First Industrial Realty Trust by 77.7% during the 2nd quarter. Invesco Ltd. now owns 1,946,923 shares of the real estate investment trust’s stock valued at $71,530,000 after acquiring an additional 851,117 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of First Industrial Realty Trust by 196.8% during the 2nd quarter. Prudential Financial Inc. now owns 1,216,206 shares of the real estate investment trust’s stock valued at $44,684,000 after acquiring an additional 806,385 shares in the last quarter. Finally, Long Pond Capital LP purchased a new position in shares of First Industrial Realty Trust during the 2nd quarter valued at $27,575,000. Institutional investors and hedge funds own 94.36% of the company’s stock.

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.

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