Kestra Investment Management LLC Purchases 7,654 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• Kestra Investment Management LLC increased its stake in First Industrial Realty Trust by 207.6%, owning 11,341 shares worth approximately $609,000.
• First Industrial Realty Trust announced a quarterly dividend of $0.445 per share, with a yield of 3.4% and a dividend payout ratio of 86.83%.
• Analysts have generally given First Industrial Realty Trust a consensus rating of "Hold", with an average price target of $54.80 per share.

Kestra Investment Management LLC increased its position in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 207.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,341 shares of the real estate investment trust's stock after buying an additional 7,654 shares during the quarter. Kestra Investment Management LLC's holdings in First Industrial Realty Trust were worth $609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FR. Bessemer Group Inc. increased its stake in shares of First Industrial Realty Trust by 93.0% in the first 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 purchased a new position in shares of First Industrial Realty Trust in the first quarter worth $26,000. Parallel Advisors LLC increased its position in First Industrial Realty Trust by 285.1% during the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 821 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in First Industrial Realty Trust during the 1st quarter valued at $69,000. Finally, Fifth Third Bancorp increased its position in First Industrial Realty Trust by 22.2% during the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 236 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FR. Scotiabank boosted their price objective on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Wells Fargo & Company reduced 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. Mizuho boosted their price objective on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, September 8th. Finally, Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $54.80.

First Industrial Realty Trust Stock Down 0.9%

Shares of NYSE:FR traded down $0.48 during midday trading on Friday, reaching $52.16. The company's stock had a trading volume of 759,288 shares, compared to its average volume of 879,978. The firm has a 50 day moving average of $50.02 and a 200-day moving average of $50.16. The firm has a market capitalization of $6.91 billion, a P/E ratio of 25.44 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.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results 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 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%. The company's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a $0.445 dividend. 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 dividend payout ratio is currently 86.83%.

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.