Hennion & Walsh Asset Management Inc. Purchases 2,969 Shares of First Industrial Realty Trust, Inc. (NYSE:FR)

Hennion & Walsh Asset Management Inc. raised its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 44.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,576 shares of the real estate investment trust’s stock after buying an additional 2,969 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in First Industrial Realty Trust were worth $536,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FR. Vanguard Group Inc. increased its position in First Industrial Realty Trust by 0.4% during the first quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock worth $1,008,284,000 after acquiring an additional 77,270 shares during the period. Centersquare Investment Management LLC raised its position in shares of First Industrial Realty Trust by 8.4% in the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after buying an additional 380,805 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of First Industrial Realty Trust by 7.3% in the second quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock valued at $103,465,000 after buying an additional 148,996 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of First Industrial Realty Trust by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock valued at $96,133,000 after buying an additional 118,239 shares during the period. Finally, Bank of New York Mellon Corp grew its position in First Industrial Realty Trust by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 1,321,315 shares of the real estate investment trust’s stock worth $62,776,000 after buying an additional 11,522 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $53.57 on Tuesday. The firm’s fifty day moving average price is $55.52 and its two-hundred day moving average price is $51.32. The stock has a market cap of $7.09 billion, a PE ratio of 24.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.16 and a current ratio of 1.11. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.58 and a fifty-two week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The business had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. During the same quarter in the previous year, the company posted $0.62 EPS. First Industrial Realty Trust’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts expect that First Industrial Realty Trust, Inc. will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Monday, September 30th were given a dividend of $0.37 per share. The ex-dividend date was Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 2.76%. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FR. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price for the company in a research report on Tuesday, August 13th. Scotiabank upped their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Truist Financial raised their target price 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. Mizuho upped their price target on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Finally, Barclays lifted their price objective on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and an average price target of $57.92.

First Industrial Realty Trust Profile

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.