Envestnet Portfolio Solutions Inc. Increases Stock Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,511 shares of the real estate investment trust’s stock after purchasing an additional 1,443 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in First Industrial Realty Trust were worth $627,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Natixis Advisors LLC raised its position in First Industrial Realty Trust by 12.5% during the 4th quarter. Natixis Advisors LLC now owns 28,676 shares of the real estate investment trust’s stock worth $1,438,000 after buying an additional 3,179 shares during the last quarter. Swiss National Bank raised its holdings in First Industrial Realty Trust by 0.7% during the fourth quarter. Swiss National Bank now owns 260,300 shares of the real estate investment trust’s stock worth $13,049,000 after purchasing an additional 1,800 shares in the last quarter. Great Lakes Advisors LLC lifted its position in First Industrial Realty Trust by 23.7% in the fourth quarter. Great Lakes Advisors LLC now owns 48,901 shares of the real estate investment trust’s stock valued at $2,451,000 after purchasing an additional 9,379 shares during the period. HighTower Advisors LLC increased its position in First Industrial Realty Trust by 15.7% during the 4th quarter. HighTower Advisors LLC now owns 6,918 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 939 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in shares of First Industrial Realty Trust during the 4th quarter worth approximately $3,510,000. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $54.31 on Tuesday. First Industrial Realty Trust, Inc. has a one year low of $45.10 and a one year high of $58.17. The stock has a market cap of $7.19 billion, a PE ratio of 24.91 and a beta of 1.07. The business’s fifty day moving average price is $54.71 and its two-hundred day moving average price is $53.77. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. On average, analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a yield of 3.28%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio (DPR) is 81.65%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price target for the company from $52.00 to $59.00 in a research note on Friday, February 21st. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Robert W. Baird raised their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.31.

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.