Caisse de depot et placement du Quebec Acquires New Shares in First Industrial Realty Trust, Inc. $FR

Key Points

• Caisse de dépôt et placement du Québec acquired 240,483 shares of First Industrial Realty Trust in the second quarter, valued at approximately $14.7 million, giving it a 0.18% stake. Institutional investors collectively own 99.85% of the REIT.
• Analyst sentiment remains positive, with an overall “Moderate Buy” rating and an average price target of $67.07, although some firms maintain neutral or equal-weight ratings.
• First Industrial reported quarterly EPS of $0.58, below the $0.80 consensus estimate, while revenue rose 8.2% year over year to $194.94 million. The company declared a quarterly dividend of $0.50 per share, representing a 3.2% annualized yield.

Caisse de depot et placement du Quebec bought a new position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 240,483 shares of the real estate investment trust's stock, valued at approximately $14,744,000. Caisse de depot et placement du Quebec owned approximately 0.18% of First Industrial Realty Trust as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in shares of First Industrial Realty Trust by 41.1% in the first quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust's stock valued at $45,301,000 after buying an additional 244,562 shares during the period. First Trust Advisors LP boosted its position in First Industrial Realty Trust by 141.1% during the 2nd quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust's stock worth $4,181,000 after buying an additional 50,839 shares during the period. Baird Financial Group Inc. boosted its position in First Industrial Realty Trust by 4.4% during the 2nd 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 during the period. Cresset Asset Management LLC bought a new stake in First Industrial Realty Trust during the 2nd quarter worth approximately $275,000. Finally, Cerity Partners LLC grew its holdings in First Industrial Realty Trust by 463.4% during the 2nd 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 and hedge funds own 99.85% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on FR. Raymond James Financial restated a "strong-buy" rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Wells Fargo & Company reduced their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Monday, June 1st. Weiss Ratings reissued a "buy (b)" rating on shares of First Industrial Realty Trust in a research note on Friday, July 24th. Scotiabank increased their price objective on First Industrial Realty Trust from $63.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday, August 12th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $71.00 target price on shares of First Industrial Realty Trust in a research report on Monday, July 27th. One 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $67.07.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $61.93 on Friday. The stock has a market capitalization of $8.21 billion, a PE ratio of 22.60 and a beta of 1.04. The business's 50 day simple moving average is $64.31 and its 200 day simple moving average is $62.23. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 1.44. 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 quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.22). The firm had revenue of $194.94 million for the quarter, compared to the consensus estimate of $195.81 million. First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, research analysts forecast that First Industrial Realty Trust, Inc. will post 3.17 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. First Industrial Realty Trust's dividend payout ratio is 72.99%.

About First Industrial Realty Trust

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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