Wolverine Asset Management LLC Sells 14,781 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Wolverine Asset Management LLC trimmed its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 49.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,952 shares of the real estate investment trust’s stock after selling 14,781 shares during the period. Wolverine Asset Management LLC’s holdings in First Industrial Realty Trust were worth $750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Rush Island Management LP bought a new position in shares of First Industrial Realty Trust during the third quarter valued at about $60,848,000. JPMorgan Chase & Co. lifted its position in shares of First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after purchasing an additional 747,101 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of First Industrial Realty Trust by 290.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock valued at $50,105,000 after purchasing an additional 665,920 shares in the last quarter. Zimmer Partners LP bought a new position in shares of First Industrial Realty Trust during the third quarter valued at about $18,649,000. Finally, NFJ Investment Group LLC bought a new position in shares of First Industrial Realty Trust during the third quarter valued at about $7,778,000. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $55.69 on Friday. The company’s 50 day moving average is $52.26 and its 200-day moving average is $53.64. First Industrial Realty Trust, Inc. has a 12-month low of $45.10 and a 12-month 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. The firm has a market cap of $7.37 billion, a P/E ratio of 25.55 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. Sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio is 81.65%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FR shares. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price target for the company from $52.00 to $59.00 in a research report on Friday. Barclays decreased their price objective 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. KeyCorp upgraded 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 initiated coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. Finally, Robert W. Baird raised their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.31.

First Industrial Realty Trust Company Profile

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.