Exchange Traded Concepts LLC Increases Stake in First Industrial Realty Trust, Inc. $FR

Key Points

• Exchange Traded Concepts LLC increased its stake in First Industrial Realty Trust by 52.7% during Q2, acquiring an additional 8,743 shares, making its total holdings valued at approximately $1.2 million.
• In quarterly earnings, First Industrial Realty Trust reported $0.76 earnings per share, exceeding estimates, and saw revenue growth of 9.8% year-over-year.
• The company also announced a quarterly dividend of $0.445 per share, yielding 3.4%, with the ex-dividend date set for September 30th.

Exchange Traded Concepts LLC boosted its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 52.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,337 shares of the real estate investment trust's stock after purchasing an additional 8,743 shares during the period. Exchange Traded Concepts LLC's holdings in First Industrial Realty Trust were worth $1,219,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of FR. Cbre Investment Management Listed Real Assets LLC increased its stake in First Industrial Realty Trust by 381.2% in the 1st 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 purchasing an additional 1,639,952 shares during the period. Millennium Management LLC grew its position in shares of First Industrial Realty Trust by 159.5% in the 1st quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust's stock worth $121,987,000 after buying an additional 1,389,418 shares during the last quarter. Nuveen LLC bought a new stake in shares of First Industrial Realty Trust in the 1st quarter worth approximately $42,063,000. Artemis Investment Management LLP bought a new stake in shares of First Industrial Realty Trust in the 1st quarter worth approximately $40,294,000. Finally, Woodline Partners LP grew its position in shares of First Industrial Realty Trust by 182.0% in the 1st quarter. Woodline Partners LP now owns 795,709 shares of the real estate investment trust's stock worth $42,936,000 after buying an additional 513,505 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Up 0.7%

NYSE FR opened at $52.08 on Tuesday. 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 twelve month low of $40.31 and a twelve month high of $58.17. The firm has a market capitalization of $6.90 billion, a PE ratio of 25.41 and a beta of 1.08. The stock's 50 day moving average is $50.38 and its 200 day moving average is $49.94.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $180.16 million for the quarter, compared to analyst estimates of $176.46 million. During the same period in the previous year, the company posted $0.66 earnings per share. The firm's revenue was up 9.8% on a year-over-year basis. 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 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FR. Mizuho lifted their price objective on First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an "outperform" rating in a research report on Monday, September 8th. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Scotiabank lifted their price objective on First Industrial Realty Trust from $51.00 to $54.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of "Hold" and a consensus price target of $54.80.

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.

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