Engineers Gate Manager LP Sells 543,578 Shares of First Industrial Realty Trust, Inc. $FR

Engineers Gate Manager LP cut its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 59.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 374,675 shares of the real estate investment trust's stock after selling 543,578 shares during the period. Engineers Gate Manager LP owned 0.28% of First Industrial Realty Trust worth $22,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FR. BlackRock Inc. bought a new stake in First Industrial Realty Trust in the second quarter valued at about $1,021,489,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of First Industrial Realty Trust by 856,065.6% in the 4th 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. California State Teachers Retirement System increased its stake in shares of First Industrial Realty Trust by 5,999.7% in the 2nd quarter. California State Teachers Retirement System now owns 9,450,139 shares of the real estate investment trust's stock valued at $579,388,000 after acquiring an additional 9,295,212 shares during the last quarter. Norges Bank acquired a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at approximately $320,075,000. Finally, Cohen & Steers Inc. acquired a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at approximately $118,365,000. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Trading Down 1.3%

NYSE FR opened at $60.94 on Thursday. The stock has a 50 day moving average of $64.12 and a 200-day moving average of $62.37. 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 $8.08 billion, a PE ratio of 22.24 and a beta of 1.03. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.89.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.22). First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The firm had revenue of $194.94 million for the quarter, compared to analyst estimates of $195.81 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. On average, equities research analysts anticipate that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Shareholders of record on Wednesday, September 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 30th. First Industrial Realty Trust's payout ratio is currently 72.99%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FR shares. Weiss Ratings cut shares of First Industrial Realty Trust from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Wells Fargo & Company upped their price objective on shares of First Industrial Realty Trust from $61.00 to $66.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 1st. Scotiabank lifted their target price on First Industrial Realty Trust from $63.00 to $66.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 12th. Truist Financial boosted their target price on First Industrial Realty Trust from $67.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada increased their target price on First Industrial Realty Trust from $68.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $67.43.

First Industrial Realty Trust Profile

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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