Wealth Enhancement Advisory Services LLC Buys Shares of 7,829 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 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,829 shares of the real estate investment trust's stock, valued at approximately $392,000.

A number of other hedge funds have also made changes to their positions in FR. Proficio Capital Partners LLC acquired a new stake in shares of First Industrial Realty Trust during the 4th quarter worth approximately $1,463,000. ProShare Advisors LLC boosted its stake in First Industrial Realty Trust by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 6,192 shares of the real estate investment trust's stock worth $310,000 after purchasing an additional 423 shares in the last quarter. Barclays PLC boosted its stake in First Industrial Realty Trust by 109.7% in the fourth quarter. Barclays PLC now owns 274,968 shares of the real estate investment trust's stock worth $13,783,000 after purchasing an additional 143,857 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of First Industrial Realty Trust by 6.2% during the fourth quarter. Victory Capital Management Inc. now owns 698,710 shares of the real estate investment trust's stock worth $35,026,000 after acquiring an additional 40,734 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of First Industrial Realty Trust by 485.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 32,745 shares of the real estate investment trust's stock worth $1,642,000 after acquiring an additional 27,150 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FR shares. Robert W. Baird dropped their price objective on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Barclays reduced their price objective 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. Truist Financial reduced their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Scotiabank upped their price objective on 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. Six 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.com, First Industrial Realty Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.91.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR traded down $0.28 during trading hours on Friday, reaching $49.40. 1,274,126 shares of the stock were exchanged, compared to its average volume of 1,156,994. The stock's fifty day simple moving average is $48.30 and its 200 day simple moving average is $51.48. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 22.66 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Sell-side analysts predict 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 $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Monday, June 30th. First Industrial Realty Trust's dividend payout ratio is presently 88.12%.

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.