Free Trial

Invesco Ltd. Grows Position in First Industrial Realty Trust, Inc. (NYSE:FR)

First Industrial Realty Trust logo with Finance background

Key Points

  • Invesco Ltd. increased its stake in First Industrial Realty Trust by 2.0%, acquiring an additional 87,229 shares, which brings its total ownership to approximately 3.30% of the company.
  • First Industrial Realty Trust recently declared a quarterly dividend of $0.445, translating to an annualized yield of 3.7% with a payout ratio of 86.83%.
  • The company's latest earnings report showed $180.16 million in revenue for the quarter, exceeding expectations, and delivered $0.76 earnings per share, surpassing analysts' forecasts.
  • Need better tools to track First Industrial Realty Trust? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Invesco Ltd. grew its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,364,135 shares of the real estate investment trust's stock after purchasing an additional 87,229 shares during the quarter. Invesco Ltd. owned approximately 3.30% of First Industrial Realty Trust worth $235,489,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of First Industrial Realty Trust by 55.5% in the first quarter. Covestor Ltd now owns 3,086 shares of the real estate investment trust's stock worth $167,000 after purchasing an additional 1,101 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of First Industrial Realty Trust by 5.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 92,458 shares of the real estate investment trust's stock valued at $4,989,000 after buying an additional 5,107 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 valued at $119,406,000 after buying an additional 6,977 shares during the period. Vanguard Group Inc. grew 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 last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of First Industrial Realty Trust by 79.6% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 88,508 shares of the real estate investment trust's stock worth $4,776,000 after acquiring an additional 39,229 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE FR traded up $0.37 during mid-day trading on Friday, reaching $48.89. The company had a trading volume of 680,997 shares, compared to its average volume of 1,271,681. The business's 50-day simple moving average is $49.14 and its 200 day simple moving average is $50.77. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 23.85 and a beta of 1.04. 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 (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 (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.04. The company had revenue of $180.16 million during the quarter, compared to the consensus estimate of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. On average, research analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio is currently 86.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FR shares. Scotiabank boosted their price target on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Royal Bank Of Canada dropped their price objective on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. 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. Robert W. Baird decreased their price target on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Finally, Truist Financial dropped their price objective on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $55.10.

Get Our Latest Stock Analysis on FR

First Industrial Realty Trust Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

Should You Invest $1,000 in First Industrial Realty Trust Right Now?

Before you consider First Industrial Realty Trust, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and First Industrial Realty Trust wasn't on the list.

While First Industrial Realty Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

5G Stocks: The Path Forward is Profitable Cover

Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Stocks With Explosive Upside
September Slowdown: 3 Stocks to Buy When the Pullback Comes
3 Overlooked Stocks Riding the AI Data Center Boom

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines