Vanguard Group Inc. Sells 94,946 Shares of First Industrial Realty Trust, Inc. $FR

Vanguard Group Inc. trimmed its position in First Industrial Realty Trust, Inc. (NYSE:FR) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,459,778 shares of the real estate investment trust’s stock after selling 94,946 shares during the period. Vanguard Group Inc. owned about 0.15% of First Industrial Realty Trust worth $1,001,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of First Industrial Realty Trust in the 2nd quarter worth approximately $272,085,000. Prudential Financial Inc. increased its holdings in First Industrial Realty Trust by 29.0% during the second quarter. Prudential Financial Inc. now owns 2,617,338 shares of the real estate investment trust’s stock valued at $137,215,000 after buying an additional 588,208 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in First Industrial Realty Trust by 7.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,366,674 shares of the real estate investment trust’s stock worth $113,908,000 after acquiring an additional 153,817 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of First Industrial Realty Trust by 13.2% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,342,835 shares of the real estate investment trust’s stock worth $112,761,000 after acquiring an additional 272,638 shares during the last quarter. Finally, PGGM Investments grew its position in shares of First Industrial Realty Trust by 46.0% during the 3rd quarter. PGGM Investments now owns 2,337,100 shares of the real estate investment trust’s stock valued at $120,291,000 after acquiring an additional 736,477 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FR. Scotiabank upped their price objective on First Industrial Realty Trust from $57.00 to $62.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Monday, January 5th. Cantor Fitzgerald lifted their price objective on First Industrial Realty Trust from $58.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Royal Bank Of Canada boosted their price objective on First Industrial Realty Trust from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Finally, Truist Financial raised their target price on shares of First Industrial Realty Trust from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $63.21.

Insider Activity at First Industrial Realty Trust

In related news, CIO Johannson L. Yap sold 680 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total transaction of $39,691.60. Following the completion of the transaction, the executive owned 3,770 shares in the company, valued at approximately $220,054.90. This represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.06% of the company’s stock.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $62.05 on Friday. The company has a market capitalization of $8.22 billion, a price-to-earnings ratio of 33.36 and a beta of 1.14. 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 stock’s 50-day simple moving average is $58.62 and its 200-day simple moving average is $55.25. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $62.12.

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

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 95.70%.

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.