Geode Capital Management LLC Sells 26,063 Shares of First Industrial Realty Trust, Inc. $FR

Geode Capital Management LLC decreased its holdings in First Industrial Realty Trust, Inc. (NYSE:FR) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,532,498 shares of the real estate investment trust’s stock after selling 26,063 shares during the quarter. Geode Capital Management LLC’s holdings in First Industrial Realty Trust were worth $121,907,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of First Industrial Realty Trust by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust’s stock worth $1,044,103,000 after purchasing an additional 158,692 shares during the period. Invesco Ltd. grew its position in First Industrial Realty Trust by 2.0% during the first quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust’s stock worth $235,489,000 after buying an additional 87,229 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its stake in 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 period. Millennium Management LLC raised its holdings in First Industrial Realty Trust by 159.5% in the 1st quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust’s stock valued at $121,987,000 after acquiring an additional 1,389,418 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of First Industrial Realty Trust by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,212,857 shares of the real estate investment trust’s stock valued at $119,406,000 after acquiring an additional 6,977 shares during the period. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FR. JPMorgan Chase & Co. increased their price objective on shares of First Industrial Realty Trust from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group increased their price target on shares of First Industrial Realty Trust from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Mizuho boosted their price objective on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, September 8th. Scotiabank upped their target price on First Industrial Realty Trust from $54.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of First Industrial Realty Trust in a report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.00.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $55.02 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.91. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The company has a 50 day simple moving average of $53.72 and a two-hundred day simple moving average of $51.08. The company has a market capitalization of $7.29 billion, a PE ratio of 30.74 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. First Industrial Realty Trust had a net margin of 33.18% and a return on equity of 8.65%. The company had revenue of $181.43 million for the quarter, compared to analyst estimates of $182.63 million. During the same period in the prior year, the firm posted $0.69 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. Research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 99.44%.

About First Industrial Realty Trust

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.