Moran Wealth Management LLC Has $1.14 Million Stock Position in First Industrial Realty Trust, Inc. $FR

Moran Wealth Management LLC lessened its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 33.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Optas LLC raised its stake in First Industrial Realty Trust by 20.5% in the 1st quarter. Optas LLC now owns 5,799 shares of the real estate investment trust’s stock worth $335,000 after purchasing an additional 986 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of First Industrial Realty Trust by 456.7% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 27,959 shares of the real estate investment trust’s stock worth $1,617,000 after purchasing an additional 22,937 shares in the last quarter. Strs Ohio increased its holdings in shares of First Industrial Realty Trust by 73.6% during the first quarter. Strs Ohio now owns 464,562 shares of the real estate investment trust’s stock worth $26,875,000 after purchasing an additional 196,995 shares during the period. Inspire Investing LLC increased its holdings in shares of First Industrial Realty Trust by 8.6% during the first quarter. Inspire Investing LLC now owns 8,868 shares of the real estate investment trust’s stock worth $513,000 after purchasing an additional 703 shares during the period. Finally, Castellan Group raised its position in shares of First Industrial Realty Trust by 7.1% in the first quarter. Castellan Group now owns 79,219 shares of the real estate investment trust’s stock valued at $4,583,000 after buying an additional 5,262 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock traded up $0.77 on Tuesday, reaching $63.81. 52,994 shares of the stock were exchanged, compared to its average volume of 1,043,011. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $8.46 billion, a PE ratio of 24.74 and a beta of 1.05. The firm’s 50 day moving average is $62.21 and its 200-day moving average is $60.50. First Industrial Realty Trust, Inc. has a one year low of $47.38 and a one year high of $64.66.

First Industrial Realty Trust Announces Dividend

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

Analyst Ratings Changes

FR has been the subject of several recent research reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $65.00 price target on shares of First Industrial Realty Trust in a research note on Monday, April 27th. Raymond James Financial restated a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. Robert W. Baird lifted their price objective on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. KeyCorp reiterated a “sector weight” rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. Finally, Wells Fargo & Company reduced their target price on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and an average target price of $63.93.

First Industrial Realty Trust Company 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.