AQR Capital Management LLC Grows Stock Position in First Industrial Realty Trust, Inc. $FR

Key Points

• AQR Capital Management LLC increased its holdings in First Industrial Realty Trust by 185.9%, acquiring an additional 203,788 shares in the first quarter, bringing its total to 313,436 shares valued at approximately $16.9 million.
• Research analysts have mixed ratings for First Industrial Realty Trust, with a consensus rating of "Hold" and a target price averaging $54.80 per share.
• The company recently declared a quarterly dividend of $0.445, set to be paid on October 20th, reflecting an annualized dividend yield of 3.5%.

AQR Capital Management LLC increased its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 185.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,436 shares of the real estate investment trust's stock after purchasing an additional 203,788 shares during the period. AQR Capital Management LLC owned approximately 0.24% of First Industrial Realty Trust worth $16,900,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased its position in shares of First Industrial Realty Trust by 93.0% during the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 225 shares during the last quarter. Alpine Bank Wealth Management bought a new position in shares of First Industrial Realty Trust during the 1st quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in shares of First Industrial Realty Trust by 285.1% during the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 821 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of First Industrial Realty Trust during the 1st quarter valued at approximately $69,000. Finally, Fifth Third Bancorp grew its stake in shares of First Industrial Realty Trust by 22.2% during the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 236 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

FR stock traded down $0.31 during midday trading on Monday, hitting $51.88. The company's stock had a trading volume of 550,175 shares, compared to its average volume of 879,978. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 25.31 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The company has a 50 day moving average of $50.08 and a two-hundred day moving average of $50.12.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.04. The firm had revenue of $180.16 million during the quarter, compared to the consensus estimate of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio is currently 86.83%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FR. Scotiabank boosted their price objective on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Mizuho boosted their price objective on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday, September 8th. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Wells Fargo & Company dropped their price target on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $54.80.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc NYSE: FR is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.