Envestnet Asset Management Inc. Acquires 30,583 Shares of First Industrial Realty Trust, Inc. $FR

Envestnet Asset Management Inc. increased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,830 shares of the real estate investment trust’s stock after purchasing an additional 30,583 shares during the period. Envestnet Asset Management Inc.’s holdings in First Industrial Realty Trust were worth $14,142,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC bought a new position in First Industrial Realty Trust in the second quarter valued at approximately $588,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of First Industrial Realty Trust during the second quarter worth $389,000. AlphaQuest LLC raised its holdings in shares of First Industrial Realty Trust by 155.1% during the second quarter. AlphaQuest LLC now owns 41,223 shares of the real estate investment trust’s stock worth $1,984,000 after acquiring an additional 25,062 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in First Industrial Realty Trust by 2.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 837,007 shares of the real estate investment trust’s stock valued at $40,285,000 after acquiring an additional 17,535 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in First Industrial Realty Trust in the 2nd quarter worth $87,000. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Trading Up 2.1%

First Industrial Realty Trust stock opened at $56.29 on Friday. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 31.45 and a beta of 1.09. The firm has a 50-day moving average of $53.07 and a 200-day moving average of $50.60. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.91. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The business had revenue of $181.43 million for the quarter, compared to analyst estimates of $182.63 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. First Industrial Realty Trust’s revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. On average, equities analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Stockholders of record on Wednesday, December 31st will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is presently 99.44%.

Analyst Ratings Changes

A number of research firms have issued reports on FR. Wells Fargo & Company increased their target price on First Industrial Realty Trust from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, October 27th. Mizuho upped their price objective on First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, September 8th. The Goldman Sachs Group lifted their target price on First Industrial Realty Trust from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Scotiabank upped their price target on First Industrial Realty Trust from $51.00 to $54.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 27th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Hold” and a consensus target price of $56.75.

First Industrial Realty Trust Company Profile

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.