Teacher Retirement System of Texas Sells 13,834 Shares of First Industrial Realty Trust, Inc. $FR

Teacher Retirement System of Texas lowered its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 24.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,884 shares of the real estate investment trust’s stock after selling 13,834 shares during the quarter. Teacher Retirement System of Texas’ holdings in First Industrial Realty Trust were worth $2,064,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new position in First Industrial Realty Trust during the first quarter valued at about $69,000. IFP Advisors Inc lifted its holdings in First Industrial Realty Trust by 272.5% during the second quarter. IFP Advisors Inc now owns 1,330 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 973 shares during the last quarter. Fifth Third Bancorp lifted its holdings in First Industrial Realty Trust by 15.9% during the second quarter. Fifth Third Bancorp now owns 1,503 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 206 shares during the last quarter. GAMMA Investing LLC lifted its holdings in First Industrial Realty Trust by 55.4% during the first quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 599 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in First Industrial Realty Trust during the second quarter valued at about $87,000. Institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

FR has been the topic of several recent research reports. Industrial Alliance Securities set a $55.00 price objective on shares of First Industrial Realty Trust in a report on Wednesday, October 1st. Royal Bank Of Canada upped their price objective on shares of First Industrial Realty Trust from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Wells Fargo & Company upped their price objective on shares of First Industrial Realty Trust from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Industrial Realty Trust in a report on Friday. Finally, Scotiabank upped their price objective on shares of 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. Five analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.75.

First Industrial Realty Trust Trading Down 0.0%

Shares of First Industrial Realty Trust stock opened at $55.26 on Tuesday. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 30.87 and a beta of 1.07. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $52.81 and its 200-day moving average price is $50.41.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $181.43 million for the quarter, compared to the consensus estimate of $182.63 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s revenue for the quarter 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. On average, equities analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

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

First Industrial Realty Trust Company Profile

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.