Solaris Asset Management Lowers stake in First Industrial Realty Trust (FR)

First Industrial Realty Trust (FR) : Solaris Asset Management reduced its stake in First Industrial Realty Trust by 3.45% during the most recent quarter end. The investment management company now holds a total of 24,153 shares of First Industrial Realty Trust which is valued at $684,979 after selling 862 shares in First Industrial Realty Trust , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.First Industrial Realty Trust makes up approximately 0.49% of Solaris Asset Management’s portfolio.

Other Hedge Funds, Including , Boston Advisors reduced its stake in FR by selling 45,220 shares or 16.69% in the most recent quarter. The Hedge Fund company now holds 225,662 shares of FR which is valued at $6,399,774. First Industrial Realty Trust makes up approx 0.15% of Boston Advisors’s portfolio.Ls Investment Advisors boosted its stake in FR in the latest quarter, The investment management firm added 3,264 additional shares and now holds a total of 7,069 shares of First Industrial Realty Trust which is valued at $202,315. First Industrial Realty Trust makes up approx 0.01% of Ls Investment Advisors’s portfolio. Eqis Capital Management added FR to its portfolio by purchasing 9,705 company shares during the most recent quarter which is valued at $274,457. First Industrial Realty Trust makes up approx 0.02% of Eqis Capital Management’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in FR in the latest quarter, The investment management firm added 54,370 additional shares and now holds a total of 54,453 shares of First Industrial Realty Trust which is valued at $1,530,129. First Industrial Realty Trust makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

First Industrial Realty Trust opened for trading at $28.67 and hit $29.7501 on the upside on Friday, eventually ending the session at $29.47, with a gain of 2.43% or 0.7 points. The heightened volatility saw the trading volume jump to 14,33,822 shares. Company has a market cap of $3,443 M.

On the company’s financial health, First Industrial Realty Trust reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.35. The company had revenue of $93.01 million for the quarter, compared to analysts expectations of $94.08 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on First Industrial Realty Trust. First Industrial Realty Trust was Downgraded by Jefferies to ” Hold” on Jun 1, 2016. Company shares were Reiterated by Stifel on May 3, 2016 to “Buy”, Firm has raised the Price Target to $ 25 from a previous price target of $24 .

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 Trust owns approximately 634 in-service industrial properties containing approximately 62.4 million square feet of gross leasable area (GLA). Its in-service portfolio consisted of approximately 285 light industrial properties 90 R&D/flex properties 160 bulk warehouse properties and 99 regional warehouse properties located in 25 states. Its in-service portfolio includes all properties other than developed redeveloped and acquired properties that have not yet reached stabilized occupancy. The Trust’s interests in its properties and land parcels are held through partnerships corporations and limited liability companies controlled directly or indirectly by the Trust including the Operating Partnership and through its REIT subsidiaries.

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