First Industrial Realty Trust, Inc. (NYSE:FR) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 9.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 263,247 shares of the real estate investment trust’s stock after acquiring an additional 22,499 shares during the period. Envestnet Asset Management Inc. owned approximately 0.20% of First Industrial Realty Trust worth $14,205,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Stifel Financial Corp raised its holdings in First Industrial Realty Trust by 0.9% in the 4th quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust’s stock valued at $1,309,000 after acquiring an additional 222 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of First Industrial Realty Trust by 93.0% in the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 225 shares during the period. Fifth Third Bancorp grew its stake in shares of First Industrial Realty Trust by 22.2% in the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 236 shares during the period. Park Avenue Securities LLC grew its stake in shares of First Industrial Realty Trust by 2.7% in the 1st quarter. Park Avenue Securities LLC now owns 10,397 shares of the real estate investment trust’s stock valued at $561,000 after buying an additional 273 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its stake in shares of First Industrial Realty Trust by 4.6% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 7,460 shares of the real estate investment trust’s stock valued at $403,000 after buying an additional 326 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird dropped their price target on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Scotiabank increased their price target on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, May 12th. Barclays dropped their price target on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group dropped their price target on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust presently has an average rating of “Hold” and an average target price of $55.91.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $49.98 on Friday. The stock has a market capitalization of $6.62 billion, a P/E ratio of 24.38 and a beta of 1.07. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.05 and a current ratio of 1.04. The company has a 50 day moving average price of $49.38 and a 200 day moving average price of $51.00.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $180.16 million for the quarter, compared to analyst estimates of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. Equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.445 per share. The ex-dividend date is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.56%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 86.83%.

First Industrial Realty Trust 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.