Raymond James Financial Inc. Increases Holdings in First Industrial Realty Trust, Inc. $FR

Raymond James Financial Inc. grew its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,658 shares of the real estate investment trust's stock after acquiring an additional 7,899 shares during the period. Raymond James Financial Inc. owned 0.10% of First Industrial Realty Trust worth $7,375,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FR. Wealth Enhancement Advisory Services LLC raised its position in shares of First Industrial Realty Trust by 26.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust's stock worth $536,000 after buying an additional 2,106 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of First Industrial Realty Trust by 55.4% during the first quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust's stock valued at $91,000 after buying an additional 599 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of First Industrial Realty Trust by 155.1% during the first quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust's stock valued at $583,000 after buying an additional 6,516 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of First Industrial Realty Trust during the first quarter valued at about $481,000. Finally, ProShare Advisors LLC boosted its holdings in shares of First Industrial Realty Trust by 7.3% during 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 during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FR. Wells Fargo & Company dropped their target price on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. 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 raised their price objective on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $54.67.

First Industrial Realty Trust Stock Performance

FR traded up $0.18 during midday trading on Friday, reaching $52.21. The company had a trading volume of 1,122,442 shares, compared to its average volume of 825,338. The company has a market cap of $6.91 billion, a P/E ratio of 25.47 and a beta of 1.08. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average of $49.72 and a two-hundred day moving average of $50.32. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17.

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 the consensus estimate of $0.72 by $0.04. The company had revenue of $180.16 million during the quarter, compared to the consensus estimate of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. First Industrial Realty Trust's quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. As a group, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a $0.445 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 annualized dividend and a yield of 3.4%. First Industrial Realty Trust's payout ratio 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.