Cbre Investment Management Listed Real Assets LLC Grows Stock Position in First Industrial Realty Trust, Inc. $FR

Key Points

• Cbre Investment Management Listed Real Assets LLC significantly increased its stake in First Industrial Realty Trust, Inc. by 381.2% during the first quarter, owning over 2 million shares valued at approximately $111.7 million.
• Multiple institutional investors, including Nuveen LLC and Deutsche Bank AG, have also increased their holdings in First Industrial Realty Trust, which has a combined institutional ownership of 99.85%.
• First Industrial Realty Trust recently announced a quarterly dividend of $0.445, translating to an annual yield of 3.5%, with earnings per share for the last quarter reported at $0.76, beating estimates.

Cbre Investment Management Listed Real Assets LLC raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 381.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,070,197 shares of the real estate investment trust's stock after buying an additional 1,639,952 shares during the quarter. First Industrial Realty Trust accounts for about 1.7% of Cbre Investment Management Listed Real Assets LLC's portfolio, making the stock its 15th largest position. Cbre Investment Management Listed Real Assets LLC owned approximately 1.56% of First Industrial Realty Trust worth $111,708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Bessemer Group Inc. raised its position in First Industrial Realty Trust by 93.0% in the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock valued at $25,000 after buying 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 worth approximately $26,000. Parallel Advisors LLC boosted its stake in First Industrial Realty Trust by 285.1% in the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 821 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in First Industrial Realty Trust in the 1st quarter valued at $69,000. Finally, Fifth Third Bancorp boosted its stake in First Industrial Realty Trust by 22.2% in the 1st 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. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock traded down $0.73 during trading hours on Thursday, reaching $51.71. The company had a trading volume of 214,888 shares, compared to its average volume of 1,247,565. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The business has a fifty day simple moving average of $49.33 and a 200 day simple moving average of $50.56. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $6.85 billion, a PE ratio of 25.21 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 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 firm had revenue of $180.16 million during the quarter, compared to analyst estimates of $176.46 million. During the same period last year, the company earned $0.66 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 annualized dividend and a yield of 3.4%. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 86.83%.

Analyst Ratings Changes

A number of analysts have recently weighed in on FR shares. Scotiabank upped their target price on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday. Wall Street Zen raised First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Truist Financial reduced their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Robert W. Baird cut their target price on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company decreased their target price 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 equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $55.40.

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.