Financiere des Professionnels Fonds d investissement inc. Purchases Shares of 5,452 First Industrial Realty Trust, Inc. $FR

Key Points

• Financiere des Professionnels Fonds d investissement inc. acquired a stake of 5,452 shares in First Industrial Realty Trust, worth approximately $262,000, during the second quarter.
• Analysts have raised price targets for First Industrial Realty Trust, with Mizuho increasing their target from $53.00 to $56.00, indicating an "outperform" rating.
• First Industrial Realty Trust recently announced a quarterly dividend of $0.445 per share, reflecting an annualized dividend yield of 3.4%.

Financiere des Professionnels Fonds d investissement inc. purchased a new stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,452 shares of the real estate investment trust's stock, valued at approximately $262,000.

A number of other institutional investors have also recently made changes to their positions in the company. Cbre Investment Management Listed Real Assets LLC lifted its holdings 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 buying an additional 1,639,952 shares during the period. Millennium Management LLC increased its holdings 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 valued at $121,987,000 after acquiring an additional 1,389,418 shares during the period. Nuveen LLC purchased a new position in First Industrial Realty Trust during the 1st quarter worth $42,063,000. Artemis Investment Management LLP acquired a new position in shares of First Industrial Realty Trust in the 1st quarter valued at about $40,294,000. Finally, Woodline Partners LP raised its holdings in shares of First Industrial Realty Trust by 182.0% during the first quarter. Woodline Partners LP now owns 795,709 shares of the real estate investment trust's stock valued at $42,936,000 after acquiring an additional 513,505 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Mizuho raised their price objective on First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an "outperform" rating in a report on Monday, September 8th. Scotiabank raised their target price on shares of 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. Finally, Wall Street Zen upgraded shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of "Hold" and a consensus price target of $54.80.

First Industrial Realty Trust Stock Down 1.2%

First Industrial Realty Trust stock traded down $0.65 during midday trading on Friday, hitting $51.69. The stock had a trading volume of 1,282,582 shares, compared to its average volume of 880,157. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average price of $50.33 and a 200 day moving average price of $50.03. The stock has a market cap of $6.84 billion, a P/E ratio of 25.21 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings data 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. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The business 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 for the quarter 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 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 announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.4%. First Industrial Realty Trust's payout ratio is presently 86.83%.

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.