Alyeska Investment Group L.P. Sells 574,695 Shares of First Industrial Realty Trust, Inc. $FR

Alyeska Investment Group L.P. decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 28.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,448,712 shares of the real estate investment trust's stock after selling 574,695 shares during the quarter. Alyeska Investment Group L.P. owned approximately 1.09% of First Industrial Realty Trust worth $88,821,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted 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 worth $45,301,000 after purchasing an additional 244,562 shares in the last quarter. First Trust Advisors LP raised its position in shares of 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 buying an additional 50,839 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of First Industrial Realty Trust by 4.4% in the second quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust's stock worth $2,685,000 after buying an additional 2,356 shares in the last quarter. Cresset Asset Management LLC purchased a new position in shares of First Industrial Realty Trust in the second quarter worth $275,000. Finally, Cerity Partners LLC boosted its position in shares of First Industrial Realty Trust by 463.4% during the second 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 last quarter. Institutional investors own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James Financial restated a "strong-buy" rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Royal Bank Of Canada boosted their target price on First Industrial Realty Trust from $68.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Truist Financial increased their price target on First Industrial Realty Trust from $67.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Weiss Ratings restated a "buy (b)" rating on shares of First Industrial Realty Trust in a report on Friday, July 24th. Finally, Citigroup lifted their price objective on First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. One research 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's stock. According to MarketBeat, First Industrial Realty Trust currently has a consensus rating of "Moderate Buy" and an average target price of $67.07.

First Industrial Realty Trust Stock Down 0.7%

Shares of NYSE FR opened at $61.93 on Friday. The firm's 50-day moving average price is $64.31 and its 200-day moving average price is $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 stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 22.60 and a beta of 1.04. First Industrial Realty Trust, Inc. has a 12-month low of $50.24 and a 12-month high of $69.88.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly 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). The company had revenue of $194.94 million during the quarter, compared to analysts' expectations of $195.81 million. First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The company's revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.76 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. On average, equities research analysts anticipate that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Wednesday, September 30th will be paid 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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