Algert Global LLC Has $3.60 Million Holdings in First Industrial Realty Trust, Inc. $FR

Key Points

• Algert Global cut its First Industrial Realty Trust position by 60% in the second quarter, selling 88,330 shares and retaining 58,769 shares valued at approximately $3.6 million. Institutional investors collectively own 99.85% of the REIT.
• First Industrial reported quarterly revenue of $194.94 million, up 8.2% year over year, but earnings of $0.58 per share fell short of analysts’ $0.80 estimate. The company issued fiscal 2026 EPS guidance of $3.12 to $3.20.
• The company declared a quarterly dividend of $0.50 per share, equating to $2.00 annually and a 3.2% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $67.07.

Algert Global LLC decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 60.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,769 shares of the real estate investment trust's stock after selling 88,330 shares during the quarter. Algert Global LLC's holdings in First Industrial Realty Trust were worth $3,603,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FR. Public Employees Retirement System of Ohio boosted its position in shares of First Industrial Realty Trust by 26.3% in the first quarter. Public Employees Retirement System of Ohio now owns 290,663 shares of the real estate investment trust's stock worth $16,815,000 after buying an additional 60,459 shares during the period. M&T Bank Corp acquired a new position in First Industrial Realty Trust in the fourth quarter worth approximately $1,134,000. Bank of America Corp DE increased its holdings in First Industrial Realty Trust by 15.9% in the first quarter. Bank of America Corp DE now owns 778,077 shares of the real estate investment trust's stock worth $45,012,000 after buying an additional 106,928 shares during the last quarter. Convergence Investment Partners LLC bought a new position in First Industrial Realty Trust during the first quarter valued at approximately $1,367,000. Finally, Entropy Technologies LP raised its holdings in shares of First Industrial Realty Trust by 117.6% during the 1st quarter. Entropy Technologies LP now owns 50,754 shares of the real estate investment trust's stock valued at $2,936,000 after purchasing an additional 27,433 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $61.93 on Friday. First Industrial Realty Trust, Inc. has a 1-year low of $50.24 and a 1-year high of $69.88. The company has a 50 day moving average of $64.31 and a 200-day moving average of $62.23. 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 company has a market cap of $8.21 billion, a PE ratio of 22.60 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.22). First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The business had revenue of $194.94 million during the quarter, compared to the consensus estimate of $195.81 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The business's revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, equities research analysts forecast that First Industrial Realty Trust, Inc. will post 3.17 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Wednesday, September 30th will be paid a $0.50 dividend. 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 payout ratio is currently 72.99%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Robert W. Baird boosted their target price on First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Raymond James Financial restated a "strong-buy" rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. KeyCorp reaffirmed a "sector weight" rating on shares of First Industrial Realty Trust in a report on Wednesday, June 10th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $71.00 price target on shares of First Industrial Realty Trust in a research note on Monday, July 27th. Finally, Truist Financial upped their price objective on shares of First Industrial Realty Trust from $67.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $67.07.

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.

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