London Co. of Virginia Sells 25,729 Shares of First Industrial Realty Trust, Inc. $FR

London Co. of Virginia trimmed its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 942,403 shares of the real estate investment trust’s stock after selling 25,729 shares during the quarter. London Co. of Virginia’s holdings in First Industrial Realty Trust were worth $48,506,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FR. Lighthouse Investment Partners LLC grew its position in First Industrial Realty Trust by 11.5% in the third quarter. Lighthouse Investment Partners LLC now owns 429,200 shares of the real estate investment trust’s stock worth $22,091,000 after acquiring an additional 44,200 shares in the last quarter. Jain Global LLC bought a new stake in First Industrial Realty Trust during the third quarter worth approximately $7,265,000. Gotham Asset Management LLC raised its position in First Industrial Realty Trust by 43.4% during the third quarter. Gotham Asset Management LLC now owns 12,915 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 3,911 shares during the period. Focus Partners Wealth lifted its stake in shares of First Industrial Realty Trust by 3.6% in the 3rd quarter. Focus Partners Wealth now owns 101,762 shares of the real estate investment trust’s stock valued at $5,224,000 after purchasing an additional 3,495 shares during the last quarter. Finally, DoubleLine ETF Adviser LP lifted its stake in shares of First Industrial Realty Trust by 6.3% in the 3rd quarter. DoubleLine ETF Adviser LP now owns 8,249 shares of the real estate investment trust’s stock valued at $425,000 after purchasing an additional 492 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

FR has been the subject of a number of recent research reports. Citigroup lifted their target price on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Scotiabank raised their price target on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Cantor Fitzgerald lifted their price objective on shares of First Industrial Realty Trust from $58.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. Truist Financial boosted their price objective on shares of First Industrial Realty Trust from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Finally, iA Financial set a $67.00 target price on shares of First Industrial Realty Trust in a research note on Monday, January 5th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.29.

Insider Buying and Selling at First Industrial Realty Trust

In other news, CIO Johannson L. Yap sold 680 shares of First Industrial Realty Trust stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total transaction of $39,691.60. Following the completion of the sale, the executive directly owned 3,770 shares in the company, valued at approximately $220,054.90. This trade represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.94% of the company’s stock.

First Industrial Realty Trust Stock Up 1.5%

Shares of NYSE:FR opened at $61.04 on Tuesday. The firm has a market capitalization of $8.09 billion, a PE ratio of 32.81 and a beta of 1.11. The business has a 50 day simple moving average of $59.78 and a two-hundred day simple moving average of $56.64. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $64.01. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.12 and a quick ratio of 1.12.

First Industrial Realty Trust (NYSE:FR) last issued 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). 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 during the quarter, compared to analysts’ expectations of $186.20 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s quarterly revenue 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. On average, equities analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

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