Hsbc Holdings PLC Trims Position in First Industrial Realty Trust, Inc. $FR

Key Points

• Hsbc Holdings PLC reduced its stake in First Industrial Realty Trust by 27.2% in the first quarter, leaving it with 335,266 shares valued at $18.08 million.
• The real estate investment trust reported $0.76 earnings per share for the latest quarter, exceeding estimates of $0.72, with revenue up by 9.8% year-over-year.
• First Industrial Realty Trust declared a quarterly dividend of $0.445 per share, representing an annualized yield of 3.5%, set to be paid on October 20th.

Hsbc Holdings PLC cut its holdings in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 27.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 335,266 shares of the real estate investment trust's stock after selling 125,136 shares during the quarter. Hsbc Holdings PLC owned about 0.25% of First Industrial Realty Trust worth $18,081,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in First Industrial Realty Trust by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust's stock valued at $1,044,103,000 after purchasing an additional 158,692 shares during the period. Invesco Ltd. increased its stake in shares of First Industrial Realty Trust by 2.0% during the first quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust's stock worth $235,489,000 after acquiring an additional 87,229 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of First Industrial Realty Trust by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,212,857 shares of the real estate investment trust's stock worth $119,406,000 after acquiring an additional 6,977 shares during the period. Deutsche Bank AG increased its stake in shares of First Industrial Realty Trust by 56.1% during the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock worth $94,176,000 after acquiring an additional 675,306 shares during the period. Finally, Rush Island Management LP increased its stake in shares of First Industrial Realty Trust by 50.9% during the fourth quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock worth $82,240,000 after acquiring an additional 553,567 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

Shares of NYSE FR traded down $0.35 on Thursday, hitting $52.09. The company's stock had a trading volume of 329,323 shares, compared to its average volume of 1,248,240. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 25.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a 50 day moving average of $49.33 and a 200-day moving average of $50.56.

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 (EPS) for the quarter, beating the consensus estimate 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 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 firm earned $0.66 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. As a group, research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have weighed in on FR. Wall Street Zen upgraded shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Barclays lowered their target price on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird lowered 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 report on Tuesday, May 6th. Truist Financial lowered their target price on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Scotiabank upped 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 report on Wednesday. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company 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.