Charles Schwab Investment Management Inc. Grows Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Key Points

• Charles Schwab Investment Management Inc. has increased its holdings in First Industrial Realty Trust by 0.3%, owning approximately 1.67% of the company, valued at about $119.4 million.
• Other investors, including Bessemer Group Inc. and Parallel Advisors LLC, have significantly increased their stakes in First Industrial Realty Trust during the same period, with Bessemer boosting its holdings by 93.0%.
• Several brokerages have recently adjusted their target prices for First Industrial Realty Trust, with Wells Fargo lowering its target from $57.00 to $54.00 and maintaining an "equal weight" rating.

Charles Schwab Investment Management Inc. boosted its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,212,857 shares of the real estate investment trust's stock after acquiring an additional 6,977 shares during the period. Charles Schwab Investment Management Inc. owned 1.67% of First Industrial Realty Trust worth $119,406,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of First Industrial Realty Trust by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust's stock valued at $1,044,103,000 after buying an additional 158,692 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of First Industrial Realty Trust by 79.6% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 88,508 shares of the real estate investment trust's stock valued at $4,776,000 after buying an additional 39,229 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of First Industrial Realty Trust by 5.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,091 shares of the real estate investment trust's stock valued at $437,000 after buying an additional 425 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of First Industrial Realty Trust by 17.2% during the 1st quarter. Natixis Advisors LLC now owns 33,605 shares of the real estate investment trust's stock valued at $1,813,000 after buying an additional 4,929 shares in the last quarter. Finally, Vestcor Inc bought a new stake in shares of First Industrial Realty Trust during the 1st quarter valued at $507,000. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Up 0.8%

First Industrial Realty Trust stock traded up $0.37 during mid-day trading on Friday, reaching $48.89. The stock had a trading volume of 680,997 shares, compared to its average volume of 936,356. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The company has a 50-day moving average price of $49.13 and a two-hundred day moving average price of $50.74. 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 market capitalization of $6.47 billion, a price-to-earnings ratio of 23.85 and a beta of 1.04.

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

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.6%. First Industrial Realty Trust's payout ratio is 86.83%.

Analysts Set New Price Targets

A number of brokerages have recently commented on FR. Robert W. Baird dropped their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Barclays dropped their target price on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Scotiabank boosted their target price on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. 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 on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial dropped their price target on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of "Hold" and an average price target of $55.10.

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.