Corient Private Wealth LP Makes New $10.85 Million Investment in First Industrial Realty Trust, Inc. $FR

Key Points

• Corient Private Wealth LP acquired 176,907 shares of First Industrial Realty Trust in the second quarter, valued at approximately $10.85 million. Institutional investors collectively own 99.85% of the REIT’s stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $67.07, despite varying targets between $61 and $74.
• First Industrial reported quarterly EPS of $0.58, missing the $0.80 consensus estimate, while revenue rose 8.2% year over year to $194.94 million. The company also declared a $0.50 quarterly dividend, representing a 3.2% annualized yield.

Corient Private Wealth LP acquired a new position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 176,907 shares of the real estate investment trust's stock, valued at approximately $10,847,000. Corient Private Wealth LP owned approximately 0.13% of First Industrial Realty Trust as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of First Industrial Realty Trust in the 2nd quarter worth approximately $1,021,489,000. Northwestern Mutual Wealth Management Co. increased its position in shares of First Industrial Realty Trust by 856,065.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust's stock valued at $560,443,000 after acquiring an additional 9,784,830 shares during the last quarter. Norges Bank bought a new stake in First Industrial Realty Trust during the fourth quarter worth $320,075,000. Cohen & Steers Inc. bought a new stake in First Industrial Realty Trust during the fourth quarter worth $118,365,000. Finally, Rush Island Management LP purchased a new position in First Industrial Realty Trust in the second quarter worth $79,904,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Robert W. Baird lifted their target price on First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Cantor Fitzgerald reissued 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. Citigroup raised their price target on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $67.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Wells Fargo & Company dropped their price objective on 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, First Industrial Realty Trust currently has an average rating of "Moderate Buy" and a consensus target price of $67.07.

First Industrial Realty Trust Stock Down 0.7%

FR opened at $61.93 on Friday. First Industrial Realty Trust, Inc. has a 12 month low of $50.24 and a 12 month high of $69.88. The company has a market cap of $8.21 billion, a PE ratio of 22.60 and a beta of 1.04. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $64.31 and a 200 day moving average of $62.23.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued 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). The business had revenue of $194.94 million for the quarter, compared to the consensus estimate of $195.81 million. First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The company's revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. On average, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 19th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 30th. First Industrial Realty Trust's payout ratio is presently 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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