Cubist Systematic Strategies LLC Buys 210,112 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• Cubist Systematic Strategies LLC increased its stake in First Industrial Realty Trust by 134.9%, owning a total of 365,829 shares valued at approximately $19.74 million.
• First Industrial Realty Trust reported a net margin of 38.70% and a year-over-year revenue growth of 9.8%, with earnings per share of $0.76, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.445 per share, which represents an annualized yield of 3.4%, with a payout ratio of 86.83%.

Cubist Systematic Strategies LLC raised its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 134.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 365,829 shares of the real estate investment trust's stock after acquiring an additional 210,112 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.28% of First Industrial Realty Trust worth $19,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. increased its holdings in First Industrial Realty Trust by 93.0% in the first 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 in the last quarter. Alpine Bank Wealth Management acquired a new position in First Industrial Realty Trust in the 1st quarter valued at about $26,000. Parallel Advisors LLC raised its stake in shares of 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 acquiring an additional 821 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in First Industrial Realty Trust during the 1st quarter worth approximately $69,000. Finally, Fifth Third Bancorp increased its stake in First Industrial Realty Trust by 22.2% during the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock worth $70,000 after buying an additional 236 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Up 1.1%

Shares of First Industrial Realty Trust stock traded up $0.59 during mid-day trading on Wednesday, hitting $51.86. 670,863 shares of the stock were exchanged, compared to its average volume of 754,873. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 25.30 and a beta of 1.08. The company has a 50-day simple moving average of $49.59 and a 200 day simple moving average of $50.44. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.04. The firm had revenue of $180.16 million for the quarter, compared to analysts' expectations of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. First Industrial Realty Trust's revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on FR. Wall Street Zen upgraded shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Wells Fargo & Company cut their price objective on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Robert W. Baird cut their price objective on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Finally, Scotiabank increased their price target on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average 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.