Northwestern Mutual Wealth Management Co. Raises Stock Position in First Industrial Realty Trust, Inc. (NYSE:FR)

Northwestern Mutual Wealth Management Co. boosted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 8.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,221 shares of the real estate investment trust’s stock after purchasing an additional 952 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in First Industrial Realty Trust were worth $581,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. raised its stake in shares of First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 469 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Mather Group LLC. acquired a new position in shares of First Industrial Realty Trust in the first quarter valued at approximately $50,000. C M Bidwell & Associates Ltd. grew its holdings in shares of First Industrial Realty Trust by 119.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 765 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $82,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on FR shares. Wells Fargo & Company lifted their price objective on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Truist Financial lifted their price objective on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 5th. The Goldman Sachs Group boosted their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target for the company in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, First Industrial Realty Trust has an average rating of “Hold” and an average target price of $56.46.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $54.17 on Tuesday. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 24.96 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 52 week low of $40.44 and a 52 week high of $57.35. The company’s 50-day moving average price is $55.24 and its 200 day moving average price is $51.05. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The business had revenue of $164.10 million during the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. First Industrial Realty Trust’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. As a group, research analysts forecast that First Industrial Realty Trust, Inc. will post 2.62 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 2.73%. 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.