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

Envestnet Asset Management Inc. increased its position in First Industrial Realty Trust, Inc. (NYSE:FRGet Rating) by 1.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 205,053 shares of the real estate investment trust’s stock after buying an additional 2,745 shares during the period. Envestnet Asset Management Inc.’s holdings in First Industrial Realty Trust were worth $12,695,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. increased its holdings in First Industrial Realty Trust by 3.9% in the 4th quarter. BlackRock Inc. now owns 15,557,041 shares of the real estate investment trust’s stock valued at $1,029,877,000 after purchasing an additional 579,719 shares in the last quarter. Principal Financial Group Inc. increased its holdings in First Industrial Realty Trust by 2.1% in the 4th quarter. Principal Financial Group Inc. now owns 9,705,520 shares of the real estate investment trust’s stock valued at $640,933,000 after purchasing an additional 199,158 shares in the last quarter. State Street Corp increased its holdings in First Industrial Realty Trust by 6.6% in the 4th quarter. State Street Corp now owns 6,281,548 shares of the real estate investment trust’s stock valued at $417,519,000 after purchasing an additional 390,902 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in First Industrial Realty Trust by 4.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,839,863 shares of the real estate investment trust’s stock valued at $254,198,000 after purchasing an additional 153,903 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in First Industrial Realty Trust by 132.5% in the 4th quarter. Millennium Management LLC now owns 2,189,479 shares of the real estate investment trust’s stock valued at $144,944,000 after purchasing an additional 1,247,831 shares in the last quarter. 96.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FR shares. The Goldman Sachs Group lowered their price target on First Industrial Realty Trust from $70.00 to $61.00 and set a “neutral” rating for the company in a report on Thursday, June 16th. Jefferies Financial Group lowered their target price on First Industrial Realty Trust from $62.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, June 30th. Truist Financial lowered their target price on First Industrial Realty Trust from $66.00 to $63.00 in a research note on Monday, May 16th. Robert W. Baird raised their target price on First Industrial Realty Trust from $69.00 to $75.00 in a research note on Friday, July 22nd. Finally, Mizuho lowered their target price on First Industrial Realty Trust from $64.00 to $55.00 and set a “na” rating for the company in a research note on Tuesday, May 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.33.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $53.01 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $49.41 and its two-hundred day moving average price is $55.45. First Industrial Realty Trust, Inc. has a 52-week low of $45.79 and a 52-week high of $66.74. The stock has a market capitalization of $7.00 billion, a P/E ratio of 22.56 and a beta of 0.96.

First Industrial Realty Trust (NYSE:FRGet Rating) last issued its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.35. First Industrial Realty Trust had a net margin of 62.25% and a return on equity of 13.84%. The firm had revenue of $130.00 million for the quarter, compared to analysts’ expectations of $127.55 million. During the same quarter last year, the company posted $0.48 earnings per share. First Industrial Realty Trust’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.19 earnings per share for the current year.

First Industrial Realty Trust Profile

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First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

Further Reading

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

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