Bank of America Corp DE Makes New Investment in First Industrial Realty Trust, Inc. $FR

Key Points

• Bank of America initiated a position in First Industrial Realty Trust by purchasing 857,737 shares worth approximately $52.6 million, while several other major institutions also acquired stakes. Institutional investors now own 99.85% of the REIT.
• First Industrial reported quarterly revenue of $194.94 million, up 8.2% year over year, but earnings per share of $0.58 fell short of the $0.80 analyst consensus. The company issued fiscal 2026 EPS guidance of $3.12 to $3.20.
• The company declared a quarterly dividend of $0.50 per share, equivalent to a $2.00 annual payout and a 3.2% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $67.43.

Bank of America Corp DE bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 857,737 shares of the real estate investment trust's stock, valued at approximately $52,588,000. Bank of America Corp DE owned about 0.65% of First Industrial Realty Trust at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Caisse de depot et placement du Quebec acquired a new stake in First Industrial Realty Trust during the second quarter worth about $14,744,000. Man Group plc acquired a new stake in shares of First Industrial Realty Trust during the 2nd quarter worth approximately $3,660,000. Jupiter Topco LLC purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at approximately $3,715,000. Hsbc Holdings PLC purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at approximately $16,861,000. Finally, Legal & General Group Plc acquired a new position in First Industrial Realty Trust in the second quarter valued at approximately $42,917,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Up 0.2%

NYSE FR opened at $61.91 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 22.60 and a beta of 1.03. The firm has a 50 day simple moving average of $63.80 and a 200-day simple moving average of $62.31. First Industrial Realty Trust, Inc. has a one year low of $50.24 and a one year high of $69.88.

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 return on equity of 12.99% and a net margin of 47.97%.The business had revenue of $194.94 million for the quarter, compared to analyst estimates of $195.81 million. During the same quarter last year, the company earned $0.76 earnings per share. First Industrial Realty Trust's quarterly 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. 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 company also recently announced a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Wednesday, September 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.2%. First Industrial Realty Trust's dividend payout ratio (DPR) is 72.99%.

Analyst Ratings Changes

Several research firms have issued reports on FR. Barclays raised their target price on First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Truist Financial increased their price target on First Industrial Realty Trust from $67.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Weiss Ratings downgraded First Industrial Realty Trust from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, September 8th. Royal Bank Of Canada boosted their price objective on shares of First Industrial Realty Trust from $68.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.43.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc is a real estate investment trust that owns, operates, acquires, develops, redevelops and manages industrial properties across the United States. Its portfolio is primarily composed of warehouse, distribution and light industrial facilities used by manufacturers, distributors, logistics providers and other businesses.

The company serves customers in major industrial and logistics markets, with properties located in regions including the Midwest, Northeast, Southeast, Southwest and West Coast.

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