Legal & General Group Plc Invests $42.92 Million in First Industrial Realty Trust, Inc. $FR

Legal & General Group Plc bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) in the second quarter, Holdings Channel.com reports. The fund bought 699,998 shares of the real estate investment trust’s stock, valued at approximately $42,917,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its position in First Industrial Realty Trust by 2.0% during the first quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 163 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in First Industrial Realty Trust by 4.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock worth $258,000 after acquiring an additional 183 shares during the period. Quadrant Capital Group LLC grew its holdings in First Industrial Realty Trust by 2.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock worth $554,000 after acquiring an additional 211 shares during the period. Fifth Third Bancorp raised its position in shares of First Industrial Realty Trust by 16.0% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 242 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of First Industrial Realty Trust by 1.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 14,870 shares of the real estate investment trust’s stock worth $852,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Down 0.7%

FR opened at $61.93 on Friday. First Industrial Realty Trust, Inc. has a 1-year low of $50.24 and a 1-year high of $69.88. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a market cap of $8.21 billion, a P/E ratio of 22.60 and a beta of 1.04. The company has a fifty day moving average price of $64.31 and a two-hundred day moving average price of $62.23.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.22). The company had revenue of $194.94 million for the quarter, compared to the consensus estimate of $195.81 million. First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.First Industrial Realty Trust’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. Analysts predict that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 30th. First Industrial Realty Trust’s dividend payout ratio is 72.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on FR shares. Wells Fargo & Company dropped their price objective on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $71.00 target price on shares of First Industrial Realty Trust in a report on Monday, July 27th. Citigroup lifted their target price on First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Royal Bank Of Canada boosted their price target on 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. Finally, Barclays increased their price target on 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.07.

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.