Wealth Enhancement Advisory Services LLC Purchases 38,205 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• Wealth Enhancement Advisory Services LLC significantly increased its holdings in First Industrial Realty Trust, Inc. by acquiring 38,205 shares, resulting in a total of 48,140 shares valued at approximately $2.37 million.
• First Industrial Realty Trust recently reported $0.76 EPS for the quarter, exceeding analysts' expectations and reflecting a 9.8% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.445 per share, resulting in an annual yield of 3.5%, with an ex-dividend date set for September 30th.

Wealth Enhancement Advisory Services LLC increased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 384.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,140 shares of the real estate investment trust's stock after acquiring an additional 38,205 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in First Industrial Realty Trust were worth $2,367,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cbre Investment Management Listed Real Assets LLC increased its holdings in First Industrial Realty Trust by 381.2% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust's stock worth $111,708,000 after acquiring an additional 1,639,952 shares during the last quarter. Millennium Management LLC lifted its stake in shares of 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 buying an additional 1,389,418 shares in the last quarter. Nuveen LLC bought a new position in First Industrial Realty Trust in the 1st quarter worth approximately $42,063,000. Artemis Investment Management LLP purchased a new position in First Industrial Realty Trust in the 1st quarter valued at approximately $40,294,000. Finally, Woodline Partners LP raised its holdings in First Industrial Realty Trust by 182.0% during the 1st quarter. Woodline Partners LP now owns 795,709 shares of the real estate investment trust's stock valued at $42,936,000 after acquiring an additional 513,505 shares during the period. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $51.38 on Friday. The company has a market capitalization of $6.80 billion, a P/E ratio of 25.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The company has a fifty day moving average of $50.54 and a 200-day moving average of $49.85.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $176.46 million. During the same period last year, the business earned $0.66 earnings per share. The business's quarterly revenue was up 9.8% on a year-over-year basis. 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 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. First Industrial Realty Trust's payout ratio is presently 86.83%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FR shares. Scotiabank lifted their price target on 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. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Mizuho raised their price objective 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 research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.80.

First Industrial Realty Trust Company 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.

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