Envestnet Asset Management Inc. Increases Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Envestnet Asset Management Inc. lifted its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 9.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 263,247 shares of the real estate investment trust's stock after acquiring an additional 22,499 shares during the quarter. Envestnet Asset Management Inc. owned 0.20% of First Industrial Realty Trust worth $14,205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FR. Vanguard Group Inc. lifted its holdings in First Industrial Realty Trust by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust's stock valued at $962,039,000 after purchasing an additional 304,589 shares in the last quarter. Invesco Ltd. lifted its holdings in First Industrial Realty Trust by 80.2% during the fourth 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. Geode Capital Management LLC lifted its holdings in First Industrial Realty Trust by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust's stock valued at $124,492,000 after purchasing an additional 14,298 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in First Industrial Realty Trust by 5.7% during the fourth quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust's stock valued at $121,922,000 after purchasing an additional 130,819 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in First Industrial Realty Trust by 56.1% during the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after purchasing an additional 675,306 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Stock Up 0.0%

Shares of FR stock traded up $0.01 on Monday, reaching $50.00. 420,327 shares of the stock were exchanged, compared to its average volume of 1,216,392. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. The business's 50 day moving average price is $49.38 and its 200 day moving average price is $51.01. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 24.38 and a beta of 1.07. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month 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 (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The business had revenue of $180.16 million during the quarter, compared to analysts' expectations of $176.46 million. During the same quarter in the prior year, the business posted $0.66 EPS. The company's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.56%. The ex-dividend date is Monday, June 30th. First Industrial Realty Trust's payout ratio is 86.83%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Scotiabank boosted their target price on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Royal Bank Of Canada reduced their price target on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company cut their target price on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Barclays dropped their price objective on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group dropped their price objective on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $55.91.

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.