Moran Wealth Management LLC Makes New Investment in First Industrial Realty Trust, Inc. $FR

Moran Wealth Management LLC bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 29,747 shares of the real estate investment trust’s stock, valued at approximately $1,432,000.

Several other hedge funds also recently made changes to their positions in FR. Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of First Industrial Realty Trust by 381.2% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust’s stock valued at $111,708,000 after purchasing an additional 1,639,952 shares during the last quarter. PGGM Investments acquired a new stake in shares of First Industrial Realty Trust in the second quarter valued at approximately $77,038,000. Millennium Management LLC raised its holdings in shares of First Industrial Realty Trust by 159.5% in the first quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust’s stock valued at $121,987,000 after purchasing an additional 1,389,418 shares during the last quarter. Nuveen LLC acquired a new stake in shares of First Industrial Realty Trust in the first quarter valued at approximately $42,063,000. Finally, Artemis Investment Management LLP acquired a new stake in shares of First Industrial Realty Trust in the first quarter valued at approximately $40,294,000. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Trading Up 3.3%

FR stock opened at $53.62 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. The company has a fifty day moving average price of $51.14 and a two-hundred day moving average price of $49.63. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The stock has a market cap of $7.10 billion, a price-to-earnings ratio of 26.16 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The firm had revenue of $181.43 million during the quarter, compared to analysts’ expectations of $182.63 million. During the same period in the previous year, the business posted $0.69 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. Equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 30th. First Industrial Realty Trust’s payout ratio is 86.83%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FR. Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Industrial Alliance Securities set a $55.00 target price on shares of First Industrial Realty Trust in a research note on Wednesday, October 1st. Cantor Fitzgerald began coverage on shares of First Industrial Realty Trust in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $55.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of First Industrial Realty Trust in a research note on Wednesday, October 8th. Finally, Mizuho raised their target price on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, September 8th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $55.00.

About First Industrial Realty Trust

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.