First Industrial Realty Trust, Inc. $FR Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its First Industrial Realty Trust stake by 15.9% in the first quarter, acquiring 106,928 additional shares. It now owns 778,077 shares, valued at approximately $45.0 million, while institutional investors collectively hold 99.85% of the stock.
• Analyst sentiment is broadly positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $67.07. Recent targets range from $61 to $75.
• First Industrial Realty Trust reported quarterly EPS of $0.58, below the $0.80 consensus estimate, while revenue reached $194.94 million and rose 8.2% year over year. Shares opened at $63.36, with the company guiding to fiscal 2026 EPS of $3.12–$3.20.

Bank of America Corp DE grew its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 15.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 778,077 shares of the real estate investment trust's stock after purchasing an additional 106,928 shares during the period. Bank of America Corp DE owned about 0.59% of First Industrial Realty Trust worth $45,012,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Bull Harbor Capital LLC acquired a new position in shares of First Industrial Realty Trust in the first quarter valued at approximately $227,000. Amundi lifted its holdings in First Industrial Realty Trust by 10.5% during the 1st quarter. Amundi now owns 76,387 shares of the real estate investment trust's stock worth $4,419,000 after buying an additional 7,283 shares in the last quarter. Adelante Capital Management LLC boosted its position in First Industrial Realty Trust by 14.9% in the 1st quarter. Adelante Capital Management LLC now owns 544,609 shares of the real estate investment trust's stock valued at $31,506,000 after buying an additional 70,543 shares during the period. EverSource Wealth Advisors LLC boosted its position in First Industrial Realty Trust by 18.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,992 shares of the real estate investment trust's stock valued at $289,000 after buying an additional 762 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of First Industrial Realty Trust by 22.8% in the first quarter. California State Teachers Retirement System now owns 154,927 shares of the real estate investment trust's stock worth $8,963,000 after acquiring an additional 28,763 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on First Industrial Realty Trust from $63.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Monday, June 1st. Scotiabank lifted their target price on First Industrial Realty Trust from $63.00 to $66.00 and gave the company a "sector perform" rating in a report on Wednesday. Citigroup boosted their target price on First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Weiss Ratings restated a "buy (b)" rating on shares of First Industrial Realty Trust in a report on Friday, July 24th. Finally, Royal Bank Of Canada increased their price target on First Industrial Realty Trust from $68.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.07.

First Industrial Realty Trust Trading Up 0.6%

Shares of NYSE:FR opened at $63.36 on Thursday. First Industrial Realty Trust, Inc. has a 52 week low of $48.03 and a 52 week high of $69.88. The company's 50 day moving average is $64.14 and its two-hundred day moving average is $61.86. The company has a market cap of $8.40 billion, a PE ratio of 23.12 and a beta of 1.04. 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 (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.22). The firm had revenue of $194.94 million for the quarter, compared to analysts' expectations of $195.81 million. First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.First Industrial Realty Trust's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.76 earnings per share. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. Equities analysts predict that First Industrial Realty Trust, Inc. will post 3.16 earnings per share for the current fiscal year.

About First Industrial Realty Trust

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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