Raymond James Financial Services Advisors Inc. Grows Stake in First Industrial Realty Trust, Inc. (NYSE:FR)

Posted by Defense World Staff on Oct 26th, 2023

Raymond James Financial Services Advisors Inc. grew its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR – Free Report) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,226 shares of the real estate investment trust’s stock after purchasing an additional 2,097 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in First Industrial Realty Trust were worth $1,538,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FR. Allspring Global Investments Holdings LLC purchased a new position in First Industrial Realty Trust in the second quarter worth $131,000. Versor Investments LP grew its position in First Industrial Realty Trust by 23.3% in the first quarter. Versor Investments LP now owns 12,700 shares of the real estate investment trust’s stock worth $676,000 after acquiring an additional 2,400 shares in the last quarter. Crumly & Associates Inc. purchased a new position in First Industrial Realty Trust in the second quarter worth $275,000. Parallel Advisors LLC grew its position in First Industrial Realty Trust by 228.8% in the first quarter. Parallel Advisors LLC now owns 822 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 572 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its position in First Industrial Realty Trust by 4.3% during the first quarter. Natixis Advisors L.P. now owns 22,154 shares of the real estate investment trust’s stock valued at $1,179,000 after buying an additional 914 shares during the period. 98.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on FR. Truist Financial cut their price target on shares of First Industrial Realty Trust from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup began coverage on shares of First Industrial Realty Trust in a research report on Wednesday, July 19th. They set a “neutral” rating and a $57.00 price target for the company. Wedbush began coverage on shares of First Industrial Realty Trust in a research report on Tuesday, October 3rd. They set an “outperform” rating and a $55.00 price target for the company. The Goldman Sachs Group cut their price target on shares of First Industrial Realty Trust from $47.00 to $41.00 and set a “sell” rating for the company in a research report on Tuesday. Finally, KeyCorp lowered shares of First Industrial Realty Trust from a “sector weight” rating to an “underweight” rating and set a $42.00 price target for the company. in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $53.38.

Check Out Our Latest Research Report on FR

First Industrial Realty Trust Stock Performance

Shares of NYSE:FR opened at $40.74 on Thursday. First Industrial Realty Trust, Inc. has a 12 month low of $40.72 and a 12 month high of $55.51. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 20.17 and a beta of 0.98. The company has a 50-day moving average price of $48.49 and a 200-day moving average price of $50.97. The company has a current ratio of 0.90, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, September 28th. First Industrial Realty Trust’s payout ratio is currently 63.37%.

About First Industrial Realty Trust

(Free Report)

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.