Cwm LLC Buys 48,370 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• Cwm LLC significantly increased its ownership in First Industrial Realty Trust by purchasing 48,370 shares, raising its stake by 912.6% to a total of 53,670 shares valued at $2.58 million.
• The real estate investment trust recently reported earnings per share (EPS) of $0.76 for the quarter, surpassing analyst expectations of $0.74, marking an increase from $0.69 EPS a year prior.
• First Industrial Realty Trust declared a quarterly dividend of $0.445 payable on October 20th, reflecting an annualized yield of 3.2% with a payout ratio of 99.44%.

Cwm LLC raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 912.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,670 shares of the real estate investment trust's stock after purchasing an additional 48,370 shares during the quarter. Cwm LLC's holdings in First Industrial Realty Trust were worth $2,583,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. grew its stake 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 purchasing an additional 225 shares in the last quarter. Alpine Bank Wealth Management bought a new position in First Industrial Realty Trust in the first quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in First Industrial Realty Trust in the first quarter valued at approximately $69,000. Fifth Third Bancorp grew its stake in First Industrial Realty Trust by 22.2% in the first 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 in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of First Industrial Realty Trust by 272.5% during the 2nd quarter. IFP Advisors Inc now owns 1,330 shares of the real estate investment trust's stock worth $64,000 after acquiring an additional 973 shares during the period. 99.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FR shares. Wall Street Zen raised First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Scotiabank boosted their target price on First Industrial Realty Trust from $51.00 to $54.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. Industrial Alliance Securities set a $55.00 target price on First Industrial Realty Trust in a report on Wednesday, October 1st. Royal Bank Of Canada reissued an "outperform" rating and set a $60.00 target price on shares of First Industrial Realty Trust in a report on Monday, September 29th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of First Industrial Realty Trust in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $55.00.

First Industrial Realty Trust Stock Performance

FR opened at $55.15 on Friday. The business has a fifty day simple moving average of $51.41 and a 200 day simple moving average of $49.61. The company has a market capitalization of $7.30 billion, a PE ratio of 30.81 and a beta of 1.07. First Industrial Realty Trust, Inc. has a 1 year low of $40.31 and a 1 year high of $58.17. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The business had revenue of $181.43 million during the quarter, compared to the consensus estimate of $182.63 million. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. Research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a $0.445 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 annualized dividend and a yield of 3.2%. First Industrial Realty Trust's payout ratio is 99.44%.

First Industrial Realty Trust Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.