Park Avenue Securities LLC Acquires 428 Shares of First Industrial Realty Trust, Inc. $FR

Park Avenue Securities LLC increased its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 4.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,825 shares of the real estate investment trust’s stock after purchasing an additional 428 shares during the quarter. Park Avenue Securities LLC’s holdings in First Industrial Realty Trust were worth $521,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of FR. Cbre Investment Management Listed Real Assets LLC grew its stake in shares of First Industrial Realty Trust by 381.2% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust’s stock worth $111,708,000 after acquiring an additional 1,639,952 shares in the last quarter. Millennium Management LLC grew its stake in shares of First Industrial Realty Trust by 159.5% during the 1st quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust’s stock worth $121,987,000 after acquiring an additional 1,389,418 shares in the last quarter. Nuveen LLC bought a new position in shares of First Industrial Realty Trust during the 1st quarter worth approximately $42,063,000. Artemis Investment Management LLP bought a new position in shares of First Industrial Realty Trust during the 1st quarter worth approximately $40,294,000. Finally, Woodline Partners LP grew its stake in shares of First Industrial Realty Trust by 182.0% during the 1st quarter. Woodline Partners LP now owns 795,709 shares of the real estate investment trust’s stock worth $42,936,000 after acquiring an additional 513,505 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Trading Up 0.2%

Shares of First Industrial Realty Trust stock opened at $51.48 on Tuesday. The business has a fifty day simple moving average of $50.57 and a two-hundred day simple moving average of $49.79. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 25.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The business had revenue of $180.16 million during the quarter, compared to the consensus estimate of $176.46 million. During the same quarter last year, the firm posted $0.66 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 annualized dividend and a yield of 3.5%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 86.83%.

Analyst Ratings Changes

FR has been the subject of several research reports. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Scotiabank increased their price objective on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Mizuho increased their price objective on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Monday, September 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $60.00 price objective on shares of First Industrial Realty Trust in a report on Monday. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.00.

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.