HGI Capital Management LLC Has $6.69 Million Holdings in First Industrial Realty Trust, Inc. $FR

Key Points

• HGI Capital Management LLC increased its stake in First Industrial Realty Trust by 237.9%, owning 123,928 shares worth approximately $6.69 million, making it the fund's second-largest position.
• First Industrial Realty Trust reported a 9.8% year-over-year revenue increase in its latest earnings, posting $180.16 million, with an earnings per share of $0.76 exceeding the consensus estimate.
• The company announced a quarterly dividend of $0.445 per share with a yield of 3.4%, set to be paid on October 20th, 2023.

HGI Capital Management LLC raised its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 237.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 123,928 shares of the real estate investment trust's stock after acquiring an additional 87,248 shares during the period. First Industrial Realty Trust makes up approximately 8.3% of HGI Capital Management LLC's holdings, making the stock its 2nd biggest position. HGI Capital Management LLC owned approximately 0.09% of First Industrial Realty Trust worth $6,687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FR. First Trust Advisors LP lifted its stake in shares of First Industrial Realty Trust by 67.6% in the 4th quarter. First Trust Advisors LP now owns 70,487 shares of the real estate investment trust's stock worth $3,534,000 after purchasing an additional 28,432 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of First Industrial Realty Trust by 14.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,830 shares of the real estate investment trust's stock worth $443,000 after purchasing an additional 1,135 shares during the period. Stifel Financial Corp lifted its stake in shares of First Industrial Realty Trust by 0.9% in the 4th quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust's stock worth $1,309,000 after purchasing an additional 222 shares during the period. Coldstream Capital Management Inc. bought a new position in shares of First Industrial Realty Trust in the 4th quarter worth approximately $219,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of First Industrial Realty Trust in the 4th quarter worth approximately $2,024,000. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Trading Up 0.7%

FR traded up $0.37 during trading on Friday, reaching $52.62. The company had a trading volume of 1,085,482 shares, compared to its average volume of 778,167. The stock has a market cap of $6.97 billion, a P/E ratio of 25.67 and a beta of 1.04. The business has a 50 day simple moving average of $49.46 and a 200-day simple moving average of $50.49. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. 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 (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (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 company had revenue of $180.16 million during the quarter, compared to the consensus estimate of $176.46 million. During the same period last year, the company earned $0.66 earnings per share. First Industrial Realty Trust'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. On average, equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.4%. First Industrial Realty Trust's payout ratio is presently 86.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. 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 research note on Wednesday. Wells Fargo & Company decreased their target price on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Robert W. Baird decreased their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Finally, Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $55.40.

First Industrial Realty Trust Company 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.