Envestnet Portfolio Solutions Inc. Cuts Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Envestnet Portfolio Solutions Inc. cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,609 shares of the real estate investment trust’s stock after selling 897 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in First Industrial Realty Trust were worth $453,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. EdgeRock Capital LLC bought a new stake in First Industrial Realty Trust during the 4th quarter valued at $56,000. CWM LLC raised its stake in shares of First Industrial Realty Trust by 31.9% during the fourth quarter. CWM LLC now owns 1,613 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 390 shares during the last quarter. Covestor Ltd raised its stake in shares of First Industrial Realty Trust by 14.0% during the third quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 241 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of First Industrial Realty Trust in the fourth quarter worth about $143,000. Finally, International Assets Investment Management LLC purchased a new position in First Industrial Realty Trust during the 4th quarter valued at about $153,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays reiterated an “equal weight” rating and issued a $53.00 price objective (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Truist Financial upped their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. cut their target price on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Wedbush downgraded shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $59.00 to $49.00 in a research note on Thursday, April 25th. Finally, Mizuho reaffirmed a “buy” rating and set a $58.00 price objective on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, First Industrial Realty Trust has an average rating of “Hold” and a consensus target price of $53.09.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $48.00 on Thursday. The business has a fifty day moving average price of $49.45 and a 200-day moving average price of $50.43. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $6.35 billion, a PE ratio of 22.12 and a beta of 1.05. First Industrial Realty Trust, Inc. has a 1-year low of $40.44 and a 1-year high of $55.22.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.48 dividend on an annualized basis and a yield of 3.08%. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

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.