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

Assetmark Inc. grew its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 63,800.0% during the third quarter, Holdings Channel reports. The firm owned 3,195 shares of the real estate investment trust’s stock after acquiring an additional 3,190 shares during the quarter. Assetmark Inc.’s holdings in First Industrial Realty Trust were worth $179,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV raised its holdings in shares of First Industrial Realty Trust by 4.8% during the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 295 shares during the period. Farther Finance Advisors LLC boosted its position 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 purchasing an additional 417 shares in the last quarter. Fortem Financial Group LLC grew its stake in shares of First Industrial Realty Trust by 4.6% in the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock valued at $469,000 after buying an additional 438 shares during the period. Finally, UMB Bank n.a. increased its position 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 in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on FR. Scotiabank increased their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Royal Bank of Canada increased their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Barclays boosted their price target 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. Wolfe Research raised shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research note on Tuesday, August 13th. Finally, Wells Fargo & Company boosted their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.92.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $52.44 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The company 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, Inc. has a 52-week low of $44.35 and a 52-week high of $57.35. The company has a 50-day simple moving average of $54.61 and a two-hundred day simple moving average of $51.81.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. First Industrial Realty Trust’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. Research analysts anticipate 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 will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is presently 63.52%.

First Industrial Realty Trust Company 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.