Dark Forest Capital Management LP Has $7.09 Million Position 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 raised its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 1,951.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 investment portfolio, making the stock its 22nd largest holding. Dark Forest Capital Management LP owned approximately 0.10% of First Industrial Realty Trust worth $7,087,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FR. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of First Industrial Realty Trust by 381.2% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust's stock worth $111,708,000 after buying an additional 1,639,952 shares during the last quarter. Nuveen LLC acquired a new position in shares of First Industrial Realty Trust during the first quarter worth approximately $42,063,000. Artemis Investment Management LLP acquired a new position in shares of First Industrial Realty Trust during the first quarter worth approximately $40,294,000. Deutsche Bank AG lifted its holdings in shares of First Industrial Realty Trust by 56.1% during the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock worth $94,176,000 after buying an additional 675,306 shares during the last quarter. Finally, Rush Island Management LP lifted its holdings in shares of First Industrial Realty Trust by 50.9% during the fourth quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock worth $82,240,000 after buying an additional 553,567 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Performance

Shares of FR traded up $0.18 on Friday, reaching $52.21. 1,122,442 shares of the stock traded hands, compared to its average volume of 825,338. The stock's 50-day moving average price is $49.72 and its 200-day moving average price is $50.32. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 25.47 and a beta of 1.08. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04.

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. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The firm had revenue of $180.16 million for the quarter, compared to analysts' expectations of $176.46 million. During the same period in the prior year, the business posted $0.66 earnings per share. The business's revenue was up 9.8% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders 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 dividend on an annualized basis and a yield of 3.4%. First Industrial Realty Trust's payout ratio is currently 86.83%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company cut their price target on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Scotiabank upped their price target 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. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $54.67.

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.