Adelante Capital Management LLC Has $21.53 Million Stock Position in First Industrial Realty Trust, Inc. $FR

Key Points

• Adelante Capital Management LLC increased its stake in First Industrial Realty Trust by 63.2% in Q1, now owning 399,043 shares valued at approximately $21.5 million.
• First Industrial Realty Trust reported quarterly earnings of $0.76 EPS, exceeding expectations and showing a 9.8% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.445 per share, with a dividend yield of 3.4%, payable on October 20th.

Adelante Capital Management LLC increased its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 63.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 399,043 shares of the real estate investment trust's stock after acquiring an additional 154,600 shares during the quarter. First Industrial Realty Trust comprises approximately 1.5% of Adelante Capital Management LLC's holdings, making the stock its 23rd largest holding. Adelante Capital Management LLC owned 0.30% of First Industrial Realty Trust worth $21,533,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in shares of First Industrial Realty Trust by 93.0% during the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 225 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in First Industrial Realty Trust in the 1st quarter valued at $26,000. Parallel Advisors LLC increased its holdings in First Industrial Realty Trust by 285.1% in the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 821 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in First Industrial Realty Trust in the 1st quarter valued at $69,000. Finally, Fifth Third Bancorp increased its holdings in First Industrial Realty Trust by 22.2% in the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after buying an additional 236 shares during the period. Institutional investors own 99.85% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FR. Wells Fargo & Company lowered their price target on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. 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. Mizuho boosted their target price on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Scotiabank boosted their target price on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, First Industrial Realty Trust currently has an average rating of "Hold" and an average target price of $54.80.

First Industrial Realty Trust Trading Down 0.6%

First Industrial Realty Trust stock traded down $0.33 during trading hours on Friday, reaching $52.32. 337,226 shares of the company's stock traded hands, compared to its average volume of 1,231,444. The firm's 50 day moving average is $49.96 and its 200-day moving average is $50.28. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 25.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.04. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The business had revenue of $180.16 million for the quarter, compared to the consensus estimate of $176.46 million. During the same period last year, the company posted $0.66 EPS. First Industrial Realty Trust'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. On average, analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 86.83%.

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.