NFJ Investment Group LLC Purchases Shares of 174,814 First Industrial Realty Trust, Inc. $FR

NFJ Investment Group LLC acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the second quarter, Holdings Channel reports. The fund acquired 174,814 shares of the real estate investment trust’s stock, valued at approximately $10,718,000.

Other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in First Industrial Realty Trust by 41.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock worth $45,301,000 after acquiring an additional 244,562 shares during the last quarter. First Trust Advisors LP increased its stake in First Industrial Realty Trust by 141.1% in the 2nd quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust’s stock worth $4,181,000 after purchasing an additional 50,839 shares during the period. Baird Financial Group Inc. lifted its position in First Industrial Realty Trust by 4.4% in the second quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust’s stock valued at $2,685,000 after purchasing an additional 2,356 shares during the last quarter. Cresset Asset Management LLC bought a new stake in First Industrial Realty Trust in the second quarter valued at approximately $275,000. Finally, Cerity Partners LLC boosted its stake in shares of First Industrial Realty Trust by 463.4% during the second quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust’s stock valued at $3,033,000 after purchasing an additional 51,828 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FR. Truist Financial raised their target price on shares of First Industrial Realty Trust from $67.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Citigroup increased their price target on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Barclays raised their price target on shares of First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Robert W. Baird boosted their price objective on shares of First Industrial Realty Trust from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Royal Bank Of Canada upped their price objective on shares of First Industrial Realty Trust from $68.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.07.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $62.70 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.44 and a current ratio of 1.44. First Industrial Realty Trust, Inc. has a fifty-two week low of $49.38 and a fifty-two week high of $69.88. The firm has a market cap of $8.31 billion, a P/E ratio of 22.88 and a beta of 1.04. The business’s 50 day moving average price is $64.24 and its 200-day moving average price is $62.08.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.22). First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The business had revenue of $194.94 million for the quarter, compared to the consensus estimate of $195.81 million. During the same quarter in the prior year, the company earned $0.76 EPS. First Industrial Realty Trust’s revenue was up 8.2% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. On average, equities research analysts anticipate that First Industrial Realty Trust, Inc. will post 3.16 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Shareholders of record on Wednesday, September 30th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio is 72.99%.

First Industrial Realty Trust 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.