Royal Bank of Canada raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 11.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 372,294 shares of the real estate investment trust’s stock after buying an additional 38,935 shares during the period. Royal Bank of Canada owned about 0.31% of First Industrial Realty Trust worth $10,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of First Industrial Realty Trust by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 18,821,832 shares of the real estate investment trust’s stock valued at $501,225,000 after buying an additional 574,160 shares during the last quarter. BlackRock Inc. grew its position in shares of First Industrial Realty Trust by 2,211.2% in the 1st quarter. BlackRock Inc. now owns 16,959,238 shares of the real estate investment trust’s stock valued at $451,625,000 after buying an additional 16,225,445 shares during the last quarter. State Street Corp grew its position in shares of First Industrial Realty Trust by 0.8% in the 1st quarter. State Street Corp now owns 5,404,245 shares of the real estate investment trust’s stock valued at $143,922,000 after buying an additional 40,452 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of First Industrial Realty Trust by 1.8% in the 2nd quarter. Principal Financial Group Inc. now owns 4,298,943 shares of the real estate investment trust’s stock valued at $123,036,000 after buying an additional 75,723 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of First Industrial Realty Trust by 13.6% in the 1st quarter. Nuveen Asset Management LLC now owns 3,998,373 shares of the real estate investment trust’s stock valued at $106,477,000 after buying an additional 480,111 shares during the last quarter. Hedge funds and other institutional investors own 92.00% of the company’s stock.

In related news, Director Bruce W. Duncan sold 16,855 shares of the firm’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $30.85, for a total value of $519,976.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce W. Duncan sold 15,146 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $30.15, for a total value of $456,651.90. Following the completion of the sale, the director now directly owns 934,385 shares in the company, valued at $28,171,707.75. The disclosure for this sale can be found here. Insiders sold 100,988 shares of company stock worth $3,090,138 over the last three months. 1.71% of the stock is owned by insiders.

A number of research firms have commented on FR. Jefferies Group LLC reiterated a “neutral” rating on shares of First Industrial Realty Trust in a research report on Tuesday, September 26th. Zacks Investment Research raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a research note on Friday, August 25th. Stifel Nicolaus reissued a “buy” rating and issued a $33.00 price objective on shares of First Industrial Realty Trust in a research note on Friday, July 28th. Finally, Janney Montgomery Scott initiated coverage on First Industrial Realty Trust in a research note on Friday, September 29th. They issued a “buy” rating and a $34.00 price objective on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. First Industrial Realty Trust has a consensus rating of “Hold” and a consensus target price of $31.00.

First Industrial Realty Trust, Inc. (NYSE FR) opened at 31.02 on Tuesday. The firm has a market capitalization of $3.72 billion, a P/E ratio of 31.59 and a beta of 1.00. First Industrial Realty Trust, Inc. has a 52 week low of $24.85 and a 52 week high of $31.83. The stock has a 50 day moving average price of $30.92 and a 200-day moving average price of $29.44.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.18. The company had revenue of $97.60 million for the quarter, compared to analysts’ expectations of $97.62 million. First Industrial Realty Trust had a return on equity of 8.88% and a net margin of 29.91%. First Industrial Realty Trust’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. Analysts anticipate that First Industrial Realty Trust, Inc. will post $0.83 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $0.21 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.84 annualized dividend and a dividend yield of 2.71%. First Industrial Realty Trust’s payout ratio is presently 85.71%.

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About First Industrial Realty Trust

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

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

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