Charles Schwab Investment Management Inc. Boosts Holdings in First Industrial Realty Trust, Inc. (NYSE:FR)

Charles Schwab Investment Management Inc. increased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 0.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,212,857 shares of the real estate investment trust’s stock after buying an additional 6,977 shares during the period. Charles Schwab Investment Management Inc. owned about 1.67% of First Industrial Realty Trust worth $119,406,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in First Industrial Realty Trust by 93.0% during the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 225 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in First Industrial Realty Trust during the first quarter worth about $26,000. Parallel Advisors LLC increased its holdings in First Industrial Realty Trust by 285.1% during the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 821 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in First Industrial Realty Trust during the first quarter worth about $69,000. Finally, Fifth Third Bancorp boosted its position in First Industrial Realty Trust by 22.2% during the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on FR. Wells Fargo & Company cut their target price on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, May 19th. Truist Financial cut their target price on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Robert W. Baird cut their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Tuesday, May 6th. Barclays cut their target price on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.91.

First Industrial Realty Trust Price Performance

FR stock opened at $47.60 on Tuesday. The firm has a 50 day moving average of $49.17 and a 200-day moving average of $50.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The firm has a market capitalization of $6.30 billion, a P/E ratio of 23.22 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The business had revenue of $180.16 million during the quarter, compared to analyst estimates of $176.46 million. During the same period in the previous year, the business posted $0.66 earnings per share. First Industrial Realty Trust’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

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.