Envestnet Asset Management Inc. Acquires 22,499 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Envestnet Asset Management Inc. raised its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 9.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 263,247 shares of the real estate investment trust's stock after buying an additional 22,499 shares during the quarter. Envestnet Asset Management Inc. owned about 0.20% of First Industrial Realty Trust worth $14,205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of First Industrial Realty Trust by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust's stock worth $962,039,000 after purchasing an additional 304,589 shares during the period. Invesco Ltd. raised its position in shares of First Industrial Realty Trust by 80.2% during the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock worth $214,401,000 after purchasing an additional 1,903,164 shares during the period. Geode Capital Management LLC raised its position in shares of First Industrial Realty Trust by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust's stock worth $124,492,000 after purchasing an additional 14,298 shares during the period. Alliancebernstein L.P. raised its position in shares of First Industrial Realty Trust by 5.7% during the 4th quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust's stock worth $121,922,000 after purchasing an additional 130,819 shares during the period. Finally, Deutsche Bank AG raised 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 worth $94,176,000 after purchasing an additional 675,306 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR traded up $0.74 during trading on Tuesday, reaching $50.61. The stock had a trading volume of 1,672,381 shares, compared to its average volume of 1,221,975. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The business's 50-day moving average price is $49.35 and its 200 day moving average price is $51.01. 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 stock has a market capitalization of $6.70 billion, a PE ratio of 24.69 and a beta of 1.07.

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 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 company had revenue of $180.16 million during the quarter, compared to analysts' expectations of $176.46 million. During the same quarter in the previous year, the company posted $0.66 EPS. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were paid a dividend of $0.445 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.52%. First Industrial Realty Trust's dividend payout ratio is 86.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FR. Scotiabank increased their price target 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. Robert W. Baird cut their price objective on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Barclays cut 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. The Goldman Sachs Group cut their price objective on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their price objective on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, First Industrial Realty Trust currently has an average rating of "Hold" and a consensus target price 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.