Financiere des Professionnels Fonds d investissement inc. Buys New Stake in 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) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,452 shares of the real estate investment trust's stock, valued at approximately $262,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in First Industrial Realty Trust by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust's stock worth $1,044,103,000 after buying an additional 158,692 shares in the last quarter. Invesco Ltd. increased its stake in First Industrial Realty Trust by 2.0% during the 1st quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust's stock worth $235,489,000 after buying an additional 87,229 shares in the last quarter. Millennium Management LLC increased its stake in First Industrial Realty Trust by 159.5% during 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in First Industrial Realty Trust by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,212,857 shares of the real estate investment trust's stock worth $119,406,000 after buying an additional 6,977 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in shares of First Industrial Realty Trust by 381.2% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust's stock valued at $111,708,000 after purchasing an additional 1,639,952 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FR. Mizuho upped their price target on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, September 8th. Scotiabank upped 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. 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. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $54.80.

First Industrial Realty Trust Trading Up 0.6%

NYSE:FR traded up $0.29 during trading hours on Monday, reaching $52.00. 189,957 shares of the stock were exchanged, compared to its average volume of 1,217,354. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average of $50.33 and a two-hundred day moving average of $49.97. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 25.36 and a beta of 1.08.

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 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.04. The company had revenue of $180.16 million for the quarter, compared to analysts' expectations of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The firm's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, equities analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors 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 dividend payout ratio is 86.83%.

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.