Adelante Capital Management LLC Purchases 70,543 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• Adelante Capital Management increased its First Industrial Realty Trust stake by 14.9%, adding 70,543 shares to own 544,609 shares valued at approximately $31.5 million. Institutional investors collectively own 99.85% of the stock.
• First Industrial Realty Trust reported quarterly revenue of $194.94 million, up 8.2% year over year, but earnings of $0.58 per share fell short of the $0.80 consensus estimate. The company maintained fiscal 2026 EPS guidance of $3.12 to $3.20.
• The REIT pays a quarterly dividend of $0.50 per share, equal to a 3.0% annualized yield. Analysts give the stock a consensus “Moderate Buy” rating with an average price target of $65.79.

Adelante Capital Management LLC boosted its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 14.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 544,609 shares of the real estate investment trust's stock after acquiring an additional 70,543 shares during the period. First Industrial Realty Trust accounts for 2.1% of Adelante Capital Management LLC's investment portfolio, making the stock its 17th biggest holding. Adelante Capital Management LLC owned approximately 0.41% of First Industrial Realty Trust worth $31,506,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FR. Goldman Sachs Group Inc. grew its holdings in First Industrial Realty Trust by 41.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust's stock valued at $45,301,000 after buying an additional 244,562 shares during the last quarter. First Trust Advisors LP increased its stake in First Industrial Realty Trust by 141.1% during the second quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust's stock valued at $4,181,000 after acquiring an additional 50,839 shares during the period. Baird Financial Group Inc. increased its stake in First Industrial Realty Trust by 4.4% during the second quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust's stock valued at $2,685,000 after acquiring an additional 2,356 shares during the period. Cresset Asset Management LLC acquired a new position in First Industrial Realty Trust in the 2nd quarter valued at approximately $275,000. Finally, Cerity Partners LLC lifted its position in shares of First Industrial Realty Trust by 463.4% in the 2nd quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust's stock worth $3,033,000 after acquiring an additional 51,828 shares during the period. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Stock Performance

NYSE FR opened at $66.22 on Wednesday. First Industrial Realty Trust, Inc. has a 1-year low of $47.38 and a 1-year high of $69.88. The company has a 50 day moving average of $63.65 and a 200-day moving average of $61.45. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.89. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 24.17 and a beta of 1.05.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.22). First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The business had revenue of $194.94 million during the quarter, compared to analyst estimates of $195.81 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The firm's revenue was up 8.2% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. On average, equities analysts forecast that First Industrial Realty Trust, Inc. will post 3.16 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, June 30th. First Industrial Realty Trust's dividend payout ratio is presently 72.99%.

Wall Street Analyst Weigh In

FR has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective on First Industrial Realty Trust from $63.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Monday, June 1st. Raymond James Financial reiterated a "strong-buy" rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. Weiss Ratings reissued a "buy (b)" rating on shares of First Industrial Realty Trust in a report on Friday. Barclays increased their price objective on shares of First Industrial Realty Trust from $64.00 to $69.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. Finally, KeyCorp reiterated a "sector weight" rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $65.79.

About First Industrial Realty Trust

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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