Citadel Advisors LLC Increases Stake in First Industrial Realty Trust, Inc. $FR

Key Points

• Citadel Advisors LLC increased its stake in First Industrial Realty Trust by 70.8% in Q3, buying an additional 1,035,385 shares to hold 2,498,172 shares (about 1.89% of the company) valued at $128.58 million.
• First Industrial missed quarterly EPS estimates ($0.59 vs. $0.76) while revenue rose 7.3% to $188.41M, set FY2026 EPS guidance of 3.090–3.190, has an average analyst price target of $63.29 (majority "Buy"), and raised its quarterly dividend to $0.50 (annualized $2.00, ~3.3% yield).

Citadel Advisors LLC increased its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 70.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,498,172 shares of the real estate investment trust's stock after purchasing an additional 1,035,385 shares during the period. Citadel Advisors LLC owned 1.89% of First Industrial Realty Trust worth $128,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of FR. Norges Bank acquired a new stake in shares of First Industrial Realty Trust during the second quarter worth $272,085,000. Invesco Ltd. increased its position in shares of First Industrial Realty Trust by 8.0% in the 3rd quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust's stock valued at $223,571,000 after acquiring an additional 323,248 shares during the period. Prudential Financial Inc. raised its stake in First Industrial Realty Trust by 29.0% in the 2nd quarter. Prudential Financial Inc. now owns 2,617,338 shares of the real estate investment trust's stock worth $137,215,000 after acquiring an additional 588,208 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its position in First Industrial Realty Trust by 4.1% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,438,012 shares of the real estate investment trust's stock worth $125,484,000 after acquiring an additional 95,177 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in First Industrial Realty Trust by 7.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,366,674 shares of the real estate investment trust's stock worth $113,908,000 after acquiring an additional 153,817 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

Insider Activity at First Industrial Realty Trust

In other news, CIO Johannson L. Yap sold 680 shares of the business's stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total value of $39,691.60. Following the completion of the sale, the executive directly owned 3,770 shares in the company, valued at $220,054.90. The trade was a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.94% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Scotiabank increased their price objective on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a "sector perform" rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft raised First Industrial Realty Trust from a "hold" rating to a "buy" rating and set a $67.00 target price for the company in a report on Monday, January 5th. Robert W. Baird set a $65.00 target price on First Industrial Realty Trust in a research report on Tuesday, February 17th. iA Financial set a $67.00 price target on shares of First Industrial Realty Trust in a report on Monday, January 5th. Finally, Weiss Ratings raised shares of First Industrial Realty Trust from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, February 13th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $63.29.

First Industrial Realty Trust Trading Up 1.5%

Shares of First Industrial Realty Trust stock opened at $61.04 on Tuesday. The firm has a 50-day simple moving average of $59.78 and a two-hundred day simple moving average of $56.64. The company has a market cap of $8.09 billion, a P/E ratio of 32.81 and a beta of 1.11. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $64.01. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.12.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). First Industrial Realty Trust had a net margin of 34.03% and a return on equity of 9.02%. The business had revenue of $188.41 million for the quarter, compared to analyst estimates of $186.20 million. During the same quarter last year, the business earned $0.71 earnings per share. First Industrial Realty Trust's revenue was up 7.3% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. As a group, equities analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Tuesday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 3.3%. First Industrial Realty Trust's dividend payout ratio is 95.70%.

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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