Moran Wealth Management LLC Sells 9,788 Shares of First Industrial Realty Trust, Inc. $FR

Moran Wealth Management LLC decreased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 33.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,705 shares of the real estate investment trust’s stock after selling 9,788 shares during the quarter. Moran Wealth Management LLC’s holdings in First Industrial Realty Trust were worth $1,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at approximately $26,000. Parallel Advisors LLC increased its position in First Industrial Realty Trust by 86.9% during the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 291 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in First Industrial Realty Trust by 64.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 301 shares during the last quarter. Danske Bank A S bought a new position in First Industrial Realty Trust in the 3rd quarter valued at approximately $51,000. Finally, Parkside Financial Bank & Trust boosted its position in First Industrial Realty Trust by 27.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 262 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

FR has been the subject of several research analyst reports. Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Robert W. Baird upped their target price on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Truist Financial increased their target price on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Raymond James Financial reissued a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $65.00 price target on shares of First Industrial Realty Trust in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.93.

First Industrial Realty Trust Trading Up 1.2%

Shares of NYSE:FR traded up $0.77 during mid-day trading on Tuesday, reaching $63.81. 52,994 shares of the company’s stock were exchanged, compared to its average volume of 1,043,011. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 24.74 and a beta of 1.05. The business’s fifty day moving average price is $62.21 and its 200-day moving average price is $60.50. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust, Inc. has a twelve month low of $47.38 and a twelve month high of $64.66.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 3.1%. First Industrial Realty Trust’s payout ratio is presently 77.52%.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.