First Industrial Realty Trust, Inc. (FR) Position Lowered by Third Avenue Management LLC

Third Avenue Management LLC reduced its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 19.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,802,943 shares of the real estate investment trust’s stock after selling 448,600 shares during the period. First Industrial Realty Trust makes up about 2.3% of Third Avenue Management LLC’s investment portfolio, making the stock its 12th largest position. Third Avenue Management LLC owned about 1.54% of First Industrial Realty Trust worth $50,573,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FR. Harvest Fund Management Co. Ltd purchased a new position in First Industrial Realty Trust during the fourth quarter worth about $109,000. Elkfork Partners LLC purchased a new position in First Industrial Realty Trust during the fourth quarter worth about $141,000. Dimensional Fund Advisors LP increased its position in First Industrial Realty Trust by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,547,073 shares of the real estate investment trust’s stock worth $43,395,000 after buying an additional 9,661 shares in the last quarter. Eii Capital Management Inc. purchased a new position in First Industrial Realty Trust during the fourth quarter worth about $6,140,000. Finally, Comerica Bank increased its position in First Industrial Realty Trust by 6.4% in the fourth quarter. Comerica Bank now owns 85,749 shares of the real estate investment trust’s stock worth $2,362,000 after buying an additional 5,125 shares in the last quarter. Institutional investors and hedge funds own 97.32% of the company’s stock.

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

First Industrial Realty Trust, Inc. (NYSE:FR) traded down 0.19% during mid-day trading on Tuesday, reaching $26.29. The company’s stock had a trading volume of 428,770 shares. The firm has a 50-day moving average of $27.11 and a 200-day moving average of $27.35. First Industrial Realty Trust, Inc. has a 52 week low of $19.90 and a 52 week high of $29.75. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 21.25 and a beta of 0.96.

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A number of research analysts recently issued reports on the company. Robert W. Baird downgraded First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $29.00 to $28.00 in a research note on Wednesday, January 11th. Zacks Investment Research downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Finally, Jefferies Group LLC restated a “hold” rating on shares of First Industrial Realty Trust in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. First Industrial Realty Trust presently has an average rating of “Hold” and an average price target of $26.60.

In related news, Director Bruce W. Duncan sold 17,360 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $28.19, for a total value of $489,378.40. Following the transaction, the director now owns 986,608 shares in the company, valued at $27,812,479.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.83% of the company’s stock.

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. The Company owns approximately 590 in-service industrial properties containing approximately 63.6 million square feet of gross leasable area (GLA).

5 Day Chart for NYSE:FR

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