Envestnet Portfolio Solutions Inc. Cuts Holdings in First Industrial Realty Trust, Inc. $FR

Envestnet Portfolio Solutions Inc. decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 13.9% in the second quarter, HoldingsChannel reports. The firm owned 6,683 shares of the real estate investment trust’s stock after selling 1,082 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in First Industrial Realty Trust were worth $322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FR. GAMMA Investing LLC grew its position 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 purchasing an additional 599 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of First Industrial Realty Trust by 26.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust’s stock valued at $536,000 after purchasing an additional 2,106 shares in the last quarter. Asset Management One Co. Ltd. grew its position in shares of First Industrial Realty Trust by 4.2% during the first quarter. Asset Management One Co. Ltd. now owns 237,395 shares of the real estate investment trust’s stock valued at $12,810,000 after purchasing an additional 9,552 shares in the last quarter. Bessemer Group Inc. grew its position in shares of First Industrial Realty Trust by 93.0% during the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 225 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new position in shares of First Industrial Realty Trust during the first quarter valued at about $26,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $55.81 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 1.04. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $58.17. The firm has a market capitalization of $7.39 billion, a P/E ratio of 31.18 and a beta of 1.07. The company’s 50-day moving average is $52.00 and its 200 day moving average is $49.82.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. First Industrial Realty Trust had a net margin of 33.18% and a return on equity of 8.65%. The company had revenue of $181.43 million for the quarter, compared to analyst estimates of $182.63 million. During the same period in the prior year, the company posted $0.69 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. Research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 30th. First Industrial Realty Trust’s dividend payout ratio is 99.44%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FR. Scotiabank raised their price objective 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. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $60.00 price target on shares of First Industrial Realty Trust in a report on Monday, September 29th. Industrial Alliance Securities set a $55.00 price target on shares of First Industrial Realty Trust in a report on Wednesday, October 1st. 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 report on Monday, September 8th. Finally, The Goldman Sachs Group increased their price target on shares of First Industrial Realty Trust from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust presently has an average rating of “Hold” and a consensus price target of $56.00.

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.