Hudson Bay Capital Management LP Buys New Position in First Industrial Realty Trust, Inc. $FR

Hudson Bay Capital Management LP purchased a new stake in First Industrial Realty Trust, Inc. (NYSE:FR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 391,911 shares of the real estate investment trust’s stock, valued at approximately $20,172,000. Hudson Bay Capital Management LP owned about 0.30% of First Industrial Realty Trust as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FR. Norges Bank acquired a new position in shares of First Industrial Realty Trust during the second quarter valued at about $272,085,000. Invesco Ltd. boosted its stake in First Industrial Realty Trust by 8.0% in the 3rd quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock worth $223,571,000 after purchasing an additional 323,248 shares in the last quarter. Prudential Financial Inc. boosted its stake in First Industrial Realty Trust by 29.0% in the 2nd quarter. Prudential Financial Inc. now owns 2,617,338 shares of the real estate investment trust’s stock worth $137,215,000 after purchasing an additional 588,208 shares in the last quarter. Citadel Advisors LLC grew its position in First Industrial Realty Trust by 70.8% during the 3rd quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock worth $128,581,000 after purchasing an additional 1,035,385 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in First Industrial Realty Trust by 4.1% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,438,012 shares of the real estate investment trust’s stock worth $125,484,000 after purchasing an additional 95,177 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

FR has been the subject of a number of research analyst reports. Citigroup raised their price target on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Robert W. Baird set a $65.00 price objective on First Industrial Realty Trust in a research note on Tuesday, February 17th. Barclays reissued a “positive” rating and issued a $64.00 price objective on shares of First Industrial Realty Trust in a report on Tuesday, January 13th. iA Financial set a $67.00 target price on First Industrial Realty Trust in a research note on Monday, January 5th. Finally, Scotiabank raised their target price on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.29.

First Industrial Realty Trust Trading Down 1.4%

FR stock opened at $60.02 on Thursday. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $64.01. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.93. The firm has a market cap of $7.95 billion, a P/E ratio of 32.27 and a beta of 1.11. The company’s 50-day simple moving average is $59.88 and its 200-day simple moving average is $56.72.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). The business had revenue of $188.41 million during the quarter, compared to analysts’ expectations of $186.20 million. First Industrial Realty Trust had a net margin of 34.03% and a return on equity of 9.02%. First Industrial Realty Trust’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. As a group, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.45. First Industrial Realty Trust’s dividend payout ratio is currently 95.70%.

About First Industrial Realty Trust

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.