Dark Forest Capital Management LP Has $7.09 Million Stake in First Industrial Realty Trust, Inc. $FR

Key Points

• Dark Forest Capital Management LP significantly increased its stake in First Industrial Realty Trust by 1,951.3%, acquiring an additional 124,939 shares during the first quarter, bringing its total holdings to 131,342 shares.
• Several institutional investors, including Bessemer Group Inc. and Parallel Advisors LLC, also boosted their investments in First Industrial Realty Trust, highlighting the growing interest among hedge funds.
• First Industrial Realty Trust recently announced a quarterly dividend of $0.445 per share, representing a **3.4% dividend yield**, and its fiscal year 2025 earnings guidance is set between $2.880 and $2.960 EPS.

Dark Forest Capital Management LP boosted its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 1,951.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,342 shares of the real estate investment trust's stock after buying an additional 124,939 shares during the quarter. First Industrial Realty Trust comprises 0.3% of Dark Forest Capital Management LP's portfolio, making the stock its 22nd biggest holding. Dark Forest Capital Management LP owned 0.10% of First Industrial Realty Trust worth $7,087,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Bessemer Group Inc. grew its position in shares of 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 during the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of First Industrial Realty Trust in the first quarter valued at about $26,000. Parallel Advisors LLC grew its position in shares of First Industrial Realty Trust by 285.1% in the first 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 last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of First Industrial Realty Trust in the first quarter valued at about $69,000. Finally, Fifth Third Bancorp grew its position in shares of 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 during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

FR traded up $0.18 during midday trading on Friday, reaching $52.21. 1,122,442 shares of the company's stock were exchanged, compared to its average volume of 799,521. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 25.47 and a beta of 1.08. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. 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 50-day simple moving average of $49.72 and a two-hundred day simple moving average of $50.40.

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 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.04. The firm had revenue of $180.16 million during 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%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. As a group, research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Scotiabank raised their price target 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, August 27th. Wells Fargo & Company reduced their price objective on 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. Finally, Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $54.67.

About First Industrial Realty Trust

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.