Wealth Enhancement Advisory Services LLC Acquires New Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Wealth Enhancement Advisory Services LLC bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,829 shares of the real estate investment trust's stock, valued at approximately $392,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FR. Invesco Ltd. increased its stake in shares of First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock valued at $214,401,000 after purchasing an additional 1,903,164 shares in the last quarter. Norges Bank acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth approximately $90,489,000. Deutsche Bank AG lifted its position in shares of First Industrial Realty Trust by 56.1% during the 4th quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after buying an additional 675,306 shares in the last quarter. Rush Island Management LP lifted its position in shares of First Industrial Realty Trust by 50.9% during the 4th quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock valued at $82,240,000 after buying an additional 553,567 shares in the last quarter. Finally, Argosy Lionbridge Management LLC acquired a new stake in First Industrial Realty Trust in the 4th quarter valued at $26,447,000. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Down 0.6%

Shares of FR stock traded down $0.27 on Tuesday, hitting $48.76. 832,685 shares of the stock traded hands, compared to its average volume of 1,158,590. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 1.05. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17. The firm's 50-day moving average price is $48.60 and its two-hundred day moving average price is $51.37. The stock has a market capitalization of $6.46 billion, a PE ratio of 24.14 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a return on equity of 9.82% and a net margin of 39.04%. The firm had revenue of $177.07 million for the quarter, compared to analysts' expectations of $176.98 million. As a group, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be given a $0.445 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 annualized dividend and a yield of 3.65%. First Industrial Realty Trust's payout ratio is 88.12%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. The Goldman Sachs Group cut their target price 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. Royal Bank Of Canada cut their price objective on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. JPMorgan Chase & Co. decreased their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Barclays dropped their price target on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 30th. Finally, Truist Financial decreased their price objective on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, First Industrial Realty Trust currently has an average rating of "Moderate Buy" and a consensus target price of $55.91.

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.