Fox Run Management L.L.C. Takes $650,000 Position in First Industrial Realty Trust, Inc. $FR

Key Points

• Fox Run Management L.L.C. has acquired a new stake in First Industrial Realty Trust, Inc., purchasing 12,055 shares valued at approximately $650,000.
• The company reported an EPS of $0.76 for the last quarter, surpassing expectations, and had a revenue growth of 9.8% year-over-year.
• A quarterly dividend of $0.445 per share will be paid, which equates to a 3.6% yield and an annual payout of $1.78.

Fox Run Management L.L.C. bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,055 shares of the real estate investment trust's stock, valued at approximately $650,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FR. Boston Partners boosted its stake in shares of First Industrial Realty Trust by 1.2% in the 1st quarter. Boston Partners now owns 404,828 shares of the real estate investment trust's stock valued at $21,336,000 after purchasing an additional 4,771 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of First Industrial Realty Trust by 13.1% during the first quarter. Russell Investments Group Ltd. now owns 904,049 shares of the real estate investment trust's stock worth $48,783,000 after buying an additional 104,561 shares during the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of First Industrial Realty Trust by 8.9% during the first quarter. Resona Asset Management Co. Ltd. now owns 57,506 shares of the real estate investment trust's stock worth $3,087,000 after buying an additional 4,681 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of First Industrial Realty Trust by 42.0% during the first quarter. HighTower Advisors LLC now owns 9,822 shares of the real estate investment trust's stock worth $530,000 after buying an additional 2,904 shares in the last quarter. Finally, Public Sector Pension Investment Board bought a new position in shares of First Industrial Realty Trust in the 1st quarter valued at $2,050,000. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Robert W. Baird reduced their price objective on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Royal Bank Of Canada cut their price target on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Barclays lowered their price objective on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Truist Financial lowered their target price on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Scotiabank upped their price objective on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $55.10.

First Industrial Realty Trust Trading Up 4.3%

Shares of NYSE FR traded up $2.15 during mid-day trading on Friday, hitting $51.70. The company's stock had a trading volume of 297,029 shares, compared to its average volume of 1,252,066. The company's fifty day simple moving average is $49.12 and its 200-day simple moving average is $50.64. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 25.25 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted 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 return on equity of 9.92% and a net margin of 38.70%.The company had revenue of $180.16 million for the quarter, compared to the consensus estimate of $176.46 million. During the same quarter in the prior year, the business posted $0.66 EPS. The firm's quarterly 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, sell-side analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

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 dividend of $0.445 per share. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 annualized dividend and a yield of 3.4%. First Industrial Realty Trust's dividend payout ratio is presently 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.