Centersquare Investment Management LLC Sells 102,221 Shares of First Industrial Realty Trust, Inc. $FR

Centersquare Investment Management LLC reduced its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR) by 4.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,397,107 shares of the real estate investment trust’s stock after selling 102,221 shares during the quarter. Centersquare Investment Management LLC owned approximately 1.81% of First Industrial Realty Trust worth $123,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of First Industrial Realty Trust in the second quarter valued at about $272,085,000. Prudential Financial Inc. grew its stake in shares of First Industrial Realty Trust by 29.0% in the second quarter. Prudential Financial Inc. now owns 2,617,338 shares of the real estate investment trust’s stock worth $137,215,000 after purchasing an additional 588,208 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in First Industrial Realty Trust by 7.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,366,674 shares of the real estate investment trust’s stock valued at $113,908,000 after purchasing an additional 153,817 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its position in First Industrial Realty Trust by 13.2% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,342,835 shares of the real estate investment trust’s stock valued at $112,761,000 after purchasing an additional 272,638 shares during the last quarter. Finally, PGGM Investments raised its position in First Industrial Realty Trust by 46.0% during the 3rd quarter. PGGM Investments now owns 2,337,100 shares of the real estate investment trust’s stock valued at $120,291,000 after purchasing an additional 736,477 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Up 0.5%

NYSE:FR opened at $62.50 on Thursday. The firm has a market capitalization of $8.28 billion, a P/E ratio of 33.60 and a beta of 1.14. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.12 and a quick ratio of 1.12. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $62.79. The company’s 50-day simple moving average is $58.85 and its 200 day simple moving average is $55.55.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.17). The business had revenue of $188.41 million for 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%. First Industrial Realty Trust’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. As a group, analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Tuesday, March 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.2%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, March 31st. First Industrial Realty Trust’s dividend payout ratio is presently 95.70%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price 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. Royal Bank Of Canada lifted their price target on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Truist Financial boosted their price objective on shares of First Industrial Realty Trust from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Scotiabank raised their target price on shares of First Industrial Realty Trust from $57.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Finally, UBS Group set a $62.00 price target on shares of First Industrial Realty Trust in a research report on Thursday, December 4th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.21.

Insider Activity at First Industrial Realty Trust

In other news, CIO Johannson L. Yap sold 680 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total transaction of $39,691.60. Following the completion of the transaction, the executive directly owned 3,770 shares in the company, valued at $220,054.90. This trade represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.06% of the company’s stock.

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.