Moran Wealth Management LLC Makes New Investment in First Industrial Realty Trust, Inc. $FR

Moran Wealth Management LLC acquired a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 29,747 shares of the real estate investment trust's stock, valued at approximately $1,432,000.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in 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 purchasing an additional 158,692 shares during the period. Invesco Ltd. lifted its position in First Industrial Realty Trust by 2.0% during the 1st quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust's stock valued at $235,489,000 after purchasing an additional 87,229 shares during the period. Millennium Management LLC lifted its position in First Industrial Realty Trust by 159.5% during the 1st quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust's stock valued at $121,987,000 after purchasing an additional 1,389,418 shares during the period. Charles Schwab Investment Management Inc. lifted its position in First Industrial Realty Trust by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,212,857 shares of the real estate investment trust's stock valued at $119,406,000 after purchasing an additional 6,977 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in First Industrial Realty Trust by 381.2% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust's stock valued at $111,708,000 after purchasing an additional 1,639,952 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR opened at $53.62 on Thursday. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 26.16 and a beta of 1.07. The firm's 50 day simple moving average is $51.14 and its 200 day simple moving average is $49.63. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The firm had revenue of $181.43 million for the quarter, compared to the consensus estimate of $182.63 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. As a group, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is 86.83%.

Analysts Set New Price Targets

A number of research firms have issued reports on FR. Industrial Alliance Securities set a $55.00 target price on shares of First Industrial Realty Trust in a research report on Wednesday, October 1st. Scotiabank upped their target price on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Cantor Fitzgerald initiated coverage on shares of First Industrial Realty Trust in a research report on Wednesday, October 1st. They issued a "neutral" rating and a $55.00 price target on the stock. Wall Street Zen upgraded shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Mizuho increased their price target on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, September 8th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $55.00.

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.

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