Ieq Capital LLC Buys Shares of 13,292 First Industrial Realty Trust, Inc. $FR

Key Points

• Ieq Capital LLC has acquired a new stake in First Industrial Realty Trust, purchasing 13,292 shares valued at approximately $717,000.
• Multiple hedge funds have increased their positions in First Industrial Realty Trust, with Bessemer Group Inc. growing its stake by 93.0% during the same quarter.
• First Industrial Realty Trust reported earnings of $0.76 EPS, exceeding analyst expectations, and has declared a quarterly dividend of $0.445 with a yield of 3.5%.

Ieq Capital LLC acquired 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 filing with the Securities and Exchange Commission. The institutional investor acquired 13,292 shares of the real estate investment trust's stock, valued at approximately $717,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FR. Vanguard Group Inc. grew its holdings in shares of First Industrial Realty Trust by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust's stock worth $1,044,103,000 after purchasing an additional 158,692 shares in the last quarter. Invesco Ltd. raised its holdings in First Industrial Realty Trust by 2.0% during the 1st quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust's stock valued at $235,489,000 after buying an additional 87,229 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of First Industrial Realty Trust by 0.3% in the 1st 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 buying an additional 6,977 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of First Industrial Realty Trust by 381.2% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust's stock worth $111,708,000 after purchasing an additional 1,639,952 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of First Industrial Realty Trust by 56.1% in the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after purchasing an additional 675,306 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Stock Up 0.4%

First Industrial Realty Trust stock traded up $0.18 during trading on Friday, hitting $52.21. 1,122,442 shares of the company were exchanged, compared to its average volume of 799,521. The business's 50 day moving average is $49.72 and its 200 day moving average is $50.36. The company has a market capitalization of $6.91 billion, a P/E ratio of 25.47 and a beta of 1.08. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.04. The firm had revenue of $180.16 million for the quarter, compared to analyst estimates of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

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

Wall Street Analyst Weigh In

FR has been the topic of several research analyst reports. Scotiabank boosted their price objective on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Wells Fargo & Company lowered their price objective 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 report on Monday, May 19th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $54.67.

About First Industrial Realty Trust

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.