Assetmark Inc. Has $179,000 Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Assetmark Inc. grew its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 63,800.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,195 shares of the real estate investment trust’s stock after purchasing an additional 3,190 shares during the period. Assetmark Inc.’s holdings in First Industrial Realty Trust were worth $179,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FR. V Square Quantitative Management LLC acquired a new position in First Industrial Realty Trust in the third quarter valued at about $28,000. Allspring Global Investments Holdings LLC increased its holdings in First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 200 shares during the period. UMB Bank n.a. increased its holdings in First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 466 shares during the period. Blue Trust Inc. raised its position in shares of First Industrial Realty Trust by 201.9% in the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 636 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of First Industrial Realty Trust by 77.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 417 shares during the period. 99.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on FR. 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. Truist Financial boosted their price target on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Mizuho upped their price objective on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. The Goldman Sachs Group lifted their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their target price 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and a consensus target price of $57.92.

First Industrial Realty Trust Stock Performance

FR opened at $52.44 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. First Industrial Realty Trust, Inc. has a fifty-two week low of $44.35 and a fifty-two week high of $57.35. The company’s 50 day moving average price is $54.61 and its two-hundred day moving average price is $51.81. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 22.51 and a beta of 1.08.

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 the consensus estimate of $0.67 by $0.08. The company had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. First Industrial Realty Trust’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. As a group, research analysts predict that First Industrial Realty Trust, Inc. will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is currently 63.52%.

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.