Bank of America Corp DE Has $21.94 Million Position in First Industrial Realty Trust, Inc. (FR)

Bank of America Corp DE boosted its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 26.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 760,120 shares of the real estate investment trust’s stock after acquiring an additional 159,415 shares during the quarter. Bank of America Corp DE owned 0.60% of First Industrial Realty Trust worth $21,937,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. We Are One Seven LLC purchased a new position in First Industrial Realty Trust in the 4th quarter valued at $38,000. Oregon Public Employees Retirement Fund raised its stake in shares of First Industrial Realty Trust by 2,786.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,431,889 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,382,274 shares during the last quarter. Loeb Partners Corp acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth $58,000. PNC Financial Services Group Inc. increased its position in First Industrial Realty Trust by 9.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,220 shares of the real estate investment trust’s stock worth $180,000 after purchasing an additional 530 shares in the last quarter. Finally, GWM Advisors LLC purchased a new stake in First Industrial Realty Trust during the 4th quarter worth about $229,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Johannson L. Yap sold 15,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $34.02, for a total value of $510,300.00. Following the completion of the sale, the insider now owns 109,159 shares in the company, valued at $3,713,589.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Scott A. Musil sold 13,000 shares of the company’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $33.90, for a total value of $440,700.00. Following the completion of the sale, the chief financial officer now owns 110,989 shares of the company’s stock, valued at approximately $3,762,527.10. The disclosure for this sale can be found here. 1.59% of the stock is owned by corporate insiders.

FR has been the subject of several recent analyst reports. Zacks Investment Research cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Raymond James cut First Industrial Realty Trust from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Mizuho reiterated a “buy” rating and set a $38.00 target price on shares of First Industrial Realty Trust in a report on Wednesday, February 20th. SunTrust Banks reissued a “buy” rating and set a $36.00 price target on shares of First Industrial Realty Trust in a research report on Wednesday, February 20th. Finally, ValuEngine lowered First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $30.90.

Shares of FR stock traded up $0.12 on Friday, hitting $35.30. 611,800 shares of the stock traded hands, compared to its average volume of 647,907. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.77. The firm has a market cap of $4.44 billion, a P/E ratio of 22.06, a P/E/G ratio of 3.38 and a beta of 0.76. First Industrial Realty Trust, Inc. has a 1-year low of $27.30 and a 1-year high of $36.21.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). The firm had revenue of $104.50 million for the quarter, compared to analyst estimates of $104.68 million. First Industrial Realty Trust had a net margin of 36.88% and a return on equity of 9.05%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. On average, research analysts forecast that First Industrial Realty Trust, Inc. will post 1.7 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.23 per share. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Thursday, March 28th. First Industrial Realty Trust’s dividend payout ratio is presently 57.50%.

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About First Industrial Realty Trust

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

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