First Industrial Realty Trust, Inc. $FR Shares Acquired by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. significantly increased its holdings in First Industrial Realty Trust, acquiring an additional 375,230 shares, resulting in a total of 412,299 shares valued at approximately $22.2 million.
• First Industrial Realty Trust reported a 9.8% increase in revenue year-over-year, with earnings per share of $0.76 for the last quarter, beating analysts' expectations of $0.72.
• The company announced a quarterly dividend of $0.445 per share, representing a dividend yield of 3.4%, with the ex-dividend date set for September 30th.

Jacobs Levy Equity Management Inc. raised its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 1,012.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 412,299 shares of the real estate investment trust's stock after buying an additional 375,230 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.31% of First Industrial Realty Trust worth $22,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV purchased a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $218,000. Baird Financial Group Inc. lifted its holdings in shares of First Industrial Realty Trust by 55.2% in the 4th quarter. Baird Financial Group Inc. now owns 49,331 shares of the real estate investment trust's stock worth $2,473,000 after buying an additional 17,553 shares during the period. Captrust Financial Advisors purchased a new stake in shares of First Industrial Realty Trust in the 4th quarter worth $203,000. Cetera Investment Advisers lifted its position in shares of First Industrial Realty Trust by 6.6% in the 4th quarter. Cetera Investment Advisers now owns 19,280 shares of the real estate investment trust's stock worth $967,000 after purchasing an additional 1,193 shares during the period. Finally, EP Wealth Advisors LLC lifted its position in shares of First Industrial Realty Trust by 4.2% in the 4th quarter. EP Wealth Advisors LLC now owns 9,489 shares of the real estate investment trust's stock worth $476,000 after purchasing an additional 385 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Performance

Shares of FR traded down $0.36 during trading hours on Friday, reaching $52.29. 210,068 shares of the company traded hands, compared to its average volume of 1,230,598. The stock has a market capitalization of $6.92 billion, a P/E ratio of 25.50 and a beta of 1.08. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17. The business has a fifty day moving average price of $49.96 and a 200-day moving average price of $50.28.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $176.46 million. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm's revenue 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. Equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company 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 of this dividend is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.4%. First Industrial Realty Trust's payout ratio is 86.83%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FR. Scotiabank upped their price objective on First Industrial Realty Trust from $51.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Wells Fargo & Company lowered their price target on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Mizuho raised their price target on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a report on Monday. Finally, Wall Street Zen upgraded shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.80.

First Industrial Realty Trust 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.