Adelante Capital Management LLC Acquires Shares of 576,611 First Industrial Realty Trust, Inc. $FR

Adelante Capital Management LLC bought a new stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 576,611 shares of the real estate investment trust's stock, valued at approximately $11,417,000. Adelante Capital Management LLC owned approximately 0.43% of First Industrial Realty Trust as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Measured Wealth Private Client Group LLC purchased a new stake in First Industrial Realty Trust during the third quarter worth $26,000. Parallel Advisors LLC boosted its holdings in shares of First Industrial Realty Trust by 86.9% during the fourth quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 291 shares during the last quarter. Trust Co. of Vermont acquired a new position in shares of First Industrial Realty Trust during the 2nd quarter valued at about $39,000. Caitong International Asset Management Co. Ltd increased its position in First Industrial Realty Trust by 64.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 301 shares during the last quarter. Finally, Danske Bank A S purchased a new position in shares of First Industrial Realty Trust in the 3rd quarter worth $51,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FR shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $71.00 price target on shares of First Industrial Realty Trust in a report on Monday, July 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Industrial Realty Trust in a research note on Friday, July 24th. Wells Fargo & Company cut their price objective on First Industrial Realty Trust from $63.00 to $61.00 and set an "equal weight" rating for the company in a research report on Monday, June 1st. Citigroup upped their price objective on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Finally, Royal Bank Of Canada boosted their price objective on shares of First Industrial Realty Trust from $68.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.07.

First Industrial Realty Trust Stock Down 0.9%

NYSE FR opened at $62.94 on Thursday. The stock has a fifty day moving average of $64.29 and a 200-day moving average of $62.22. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $8.34 billion, a P/E ratio of 22.97 and a beta of 1.04. First Industrial Realty Trust, Inc. has a 52 week low of $50.24 and a 52 week high of $69.88.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.58 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 analyst estimates of $195.81 million. First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. On average, equities research analysts forecast that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

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

First Industrial Realty Trust Company 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.

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