IFM Investors Pty Ltd Lowers Stock Position in First Industrial Realty Trust, Inc. $FR

Key Points

• IFM Investors Pty Ltd has reduced its stake in First Industrial Realty Trust, Inc. by 22.4%, owning 20,737 shares valued at approximately $998,000 after selling 5,987 shares.
• First Industrial Realty Trust reported $0.76 earnings per share for the last quarter, exceeding expectations, and experienced a 9.8% year-over-year revenue increase to $180.16 million.
• The company declared a quarterly dividend of $0.445, with a dividend yield of 3.4%, to be paid on October 20th to shareholders on record by September 30th.

IFM Investors Pty Ltd trimmed its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 22.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,737 shares of the real estate investment trust's stock after selling 5,987 shares during the period. IFM Investors Pty Ltd's holdings in First Industrial Realty Trust were worth $998,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in First Industrial Realty Trust by 93.0% in the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after buying an additional 225 shares during the period. Alpine Bank Wealth Management acquired a new stake in First Industrial Realty Trust in the 1st quarter valued at approximately $26,000. Parallel Advisors LLC grew its stake in shares of First Industrial Realty Trust by 285.1% during the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 821 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in First Industrial Realty Trust in the first quarter valued at $69,000. Finally, Fifth Third Bancorp raised its holdings in First Industrial Realty Trust by 22.2% during the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 236 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

NYSE FR opened at $51.85 on Wednesday. The company has a 50-day moving average price of $50.44 and a two-hundred day moving average price of $49.95. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 25.29 and a beta of 1.08. 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 released 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. The business had revenue of $180.16 million for the quarter, compared to the consensus estimate of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. First Industrial Realty Trust's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The business 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 $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 86.83%.

Wall Street Analyst Weigh In

FR has been the topic of a number of research reports. Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. 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. Finally, Mizuho boosted their target price on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an "outperform" rating in a report on Monday, September 8th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of "Hold" and an average price target of $54.80.

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.

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