First Industrial Realty Trust, Inc. $FR Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC cut its stake in First Industrial Realty Trust, Inc. (NYSE:FR) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,665 shares of the real estate investment trust’s stock after selling 15,767 shares during the quarter. Fisher Asset Management LLC owned approximately 0.08% of First Industrial Realty Trust worth $5,230,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FR. Norges Bank purchased a new position in shares of First Industrial Realty Trust during the 2nd quarter valued at approximately $272,085,000. Cbre Investment Management Listed Real Assets LLC raised its position 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 purchasing an additional 1,639,952 shares during the last quarter. PGGM Investments purchased a new position in First Industrial Realty Trust in the 2nd quarter valued at about $77,038,000. Millennium Management LLC lifted its stake 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 buying an additional 1,389,418 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in First Industrial Realty Trust in the 1st quarter worth about $42,063,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

FR has been the subject of a number of research analyst reports. Cantor Fitzgerald initiated coverage on First Industrial Realty Trust in a report on Wednesday, October 1st. They set a “neutral” rating and a $55.00 target price for the company. UBS Group set a $62.00 price objective on First Industrial Realty Trust in a research note on Thursday. Royal Bank Of Canada lifted their target price on shares of First Industrial Realty Trust from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. upped their target price on shares of First Industrial Realty Trust from $58.00 to $61.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, Industrial Alliance Securities set a $55.00 target price on shares of First Industrial Realty Trust in a research report on Wednesday, October 1st. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $57.85.

First Industrial Realty Trust Stock Up 1.5%

Shares of FR opened at $56.77 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $54.79 and a two-hundred day simple moving average of $51.59. The company has a market capitalization of $7.52 billion, a PE ratio of 31.71 and a beta of 1.13.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (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 firm had revenue of $181.43 million during the quarter, compared to analyst estimates of $182.63 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. First Industrial Realty Trust’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. As a group, equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

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 dividend of $0.445 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.1%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 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.