First Industrial Realty Trust, Inc. $FR Shares Sold by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System reduced its First Industrial Realty Trust stake by 0.5% to 154,137 shares, while institutional ownership remains very high at 99.85%. BlackRock and Norges Bank initiated sizable positions.
• First Industrial Realty Trust shares fell 0.6% to $60.98. The REIT missed quarterly EPS estimates ($0.58 versus $0.80) despite 8.2% year-over-year revenue growth, and issued fiscal 2026 EPS guidance of $3.12–$3.20.
• The company declared a quarterly dividend of $0.50 per share, equivalent to a 3.3% yield and $2.00 annualized payout. Analysts maintain a “Moderate Buy” consensus with an average price target of $67.43.

California State Teachers Retirement System cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,137 shares of the real estate investment trust's stock after selling 790 shares during the period. California State Teachers Retirement System owned approximately 0.12% of First Industrial Realty Trust worth $9,450,139 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. bought a new stake in First Industrial Realty Trust during the second quarter worth about $1,021,489,000. Norges Bank purchased a new stake in shares of First Industrial Realty Trust during the 4th quarter valued at approximately $320,075,000. Centersquare Investment Management LLC raised its holdings in shares of First Industrial Realty Trust by 10.5% during the 4th quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust's stock valued at $151,752,000 after buying an additional 252,650 shares in the last quarter. Geode Capital Management LLC raised its holdings in First Industrial Realty Trust by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,629,908 shares of the real estate investment trust's stock worth $150,644,000 after purchasing an additional 41,042 shares in the last quarter. Finally, Cohen & Steers Inc. bought a new position in 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 0.6%

First Industrial Realty Trust stock traded down $0.39 during trading hours on Tuesday, reaching $60.98. The company had a trading volume of 289,519 shares, compared to its average volume of 1,025,572. The company has a 50-day moving average price of $64.04 and a 200 day moving average price of $62.35. First Industrial Realty Trust, Inc. has a 12-month low of $50.24 and a 12-month high of $69.88. The firm has a market cap of $8.08 billion, a price-to-earnings ratio of 22.28 and a beta of 1.03. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 1.44.

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 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.22). The company had revenue of $194.94 million for the quarter, compared to the consensus estimate of $195.81 million. First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. Equities analysts forecast that First Industrial Realty Trust, Inc. will post 3.17 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. KeyCorp reissued a "sector weight" rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. Scotiabank boosted their price objective on shares of First Industrial Realty Trust from $63.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 12th. Truist Financial lifted their target price on First Industrial Realty Trust from $67.00 to $73.00 and gave the company a "buy" rating in a report on Monday, July 27th. Citigroup raised their target price on First Industrial Realty Trust from $63.00 to $72.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of First Industrial Realty Trust in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust has an average rating of "Moderate Buy" and an average price target of $67.43.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc is a real estate investment trust that owns, operates, acquires, develops, redevelops and manages industrial properties across the United States. Its portfolio is primarily composed of warehouse, distribution and light industrial facilities used by manufacturers, distributors, logistics providers and other businesses.

The company serves customers in major industrial and logistics markets, with properties located in regions including the Midwest, Northeast, Southeast, Southwest and West Coast.

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