AQR Capital Management LLC Acquires 203,788 Shares of 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 grew its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 185.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 313,436 shares of the real estate investment trust's stock after buying an additional 203,788 shares during the period. AQR Capital Management LLC owned 0.24% of First Industrial Realty Trust worth $16,900,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FR. Cetera Investment Advisers lifted its holdings in First Industrial Realty Trust by 1.1% during the 1st quarter. Cetera Investment Advisers now owns 19,500 shares of the real estate investment trust's stock valued at $1,052,000 after purchasing an additional 220 shares during the last quarter. Bessemer Group Inc. raised its position in shares of First Industrial Realty Trust by 93.0% in the first 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 period. Fifth Third Bancorp raised its position in shares of First Industrial Realty Trust by 22.2% in the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 236 shares during the period. Norinchukin Bank The lifted its stake in shares of First Industrial Realty Trust by 4.6% during the 1st quarter. Norinchukin Bank The now owns 6,112 shares of the real estate investment trust's stock worth $330,000 after buying an additional 268 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of First Industrial Realty Trust by 2.7% during the 1st quarter. Park Avenue Securities LLC now owns 10,397 shares of the real estate investment trust's stock worth $561,000 after buying an additional 273 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FR shares. Scotiabank increased their price target on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Wells Fargo & Company decreased their target price on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Wall Street Zen raised First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Mizuho boosted their price target on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $54.80.

First Industrial Realty Trust Stock Down 1.7%

Shares of FR opened at $51.24 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The firm's 50 day moving average is $49.86 and its 200-day moving average is $50.30. The stock has a market capitalization of $6.79 billion, a PE ratio of 25.00 and a beta of 1.08.

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

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a $0.445 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.5%. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 86.83%.

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.

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