Duff & Phelps Investment Management Co. Invests $74.58 Million in First Industrial Realty Trust, Inc. $FR

Duff & Phelps Investment Management Co. bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,449,075 shares of the real estate investment trust’s stock, valued at approximately $74,584,000. Duff & Phelps Investment Management Co. owned 1.09% of First Industrial Realty Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in First Industrial Realty Trust during the 3rd quarter worth approximately $39,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter worth $40,000. SJS Investment Consulting Inc. purchased a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth $47,000. True Wealth Design LLC grew its stake in shares of First Industrial Realty Trust by 32.2% during the third quarter. True Wealth Design LLC now owns 1,655 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 403 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in shares of First Industrial Realty Trust by 21.6% during the third quarter. Hantz Financial Services Inc. now owns 2,041 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 362 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Activity

In other news, CIO Johannson L. Yap sold 680 shares of First Industrial Realty Trust stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total value of $39,691.60. Following the transaction, the executive directly owned 3,770 shares of the company’s stock, valued at $220,054.90. The trade was a 15.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.06% of the company’s stock.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $61.06 on Thursday. The stock’s 50-day moving average is $59.63 and its two-hundred day moving average is $56.43. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 32.83 and a beta of 1.11. 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 quick ratio of 1.12 and a current ratio of 1.12.

First Industrial Realty Trust (NYSE:FR) last posted its 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 firm 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%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. Analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Tuesday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend 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 3.3%. First Industrial Realty Trust’s dividend payout ratio is currently 95.70%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Citigroup raised their price target on First Industrial Realty Trust from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Truist Financial upped their price objective on First Industrial Realty Trust from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Robert W. Baird set a $65.00 target price on First Industrial Realty Trust in a research report on Tuesday, February 17th. Scotiabank boosted their target price on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Finally, iA Financial set a $67.00 price target on First Industrial Realty Trust in a report on Monday, January 5th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.29.

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.