London Co. of Virginia Purchases 19,603 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• London Co. of Virginia increased its stake in First Industrial Realty Trust by 2.4% in the first quarter, buying 19,603 additional shares and bringing its total holdings to 839,637 shares worth about $48.6 million.
• First Industrial Realty Trust reported mixed quarterly results, with EPS of $0.58 missing analyst expectations of $0.80, while revenue of $194.94 million was roughly in line with forecasts and up 8.2% year over year.
• The company continues to pay a 3.0% dividend yield ($2.00 annualized), and analysts currently rate the stock a Moderate Buy with an average price target of $64.29.

London Co. of Virginia raised its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 839,637 shares of the real estate investment trust's stock after buying an additional 19,603 shares during the period. London Co. of Virginia owned about 0.63% of First Industrial Realty Trust worth $48,573,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its holdings in First Industrial Realty Trust by 26.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 290,663 shares of the real estate investment trust's stock valued at $16,815,000 after purchasing an additional 60,459 shares during the period. M&T Bank Corp bought a new position in First Industrial Realty Trust during the 4th quarter valued at approximately $1,134,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in First Industrial Realty Trust by 7.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 209,488 shares of the real estate investment trust's stock worth $11,997,000 after buying an additional 14,693 shares during the period. SG Americas Securities LLC lifted its holdings in First Industrial Realty Trust by 121.2% in the 4th quarter. SG Americas Securities LLC now owns 183,530 shares of the real estate investment trust's stock worth $10,511,000 after buying an additional 100,551 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of First Industrial Realty Trust by 4.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 959,917 shares of the real estate investment trust's stock worth $54,974,000 after buying an additional 44,678 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Up 1.0%

Shares of NYSE:FR opened at $66.98 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $47.38 and a 52-week high of $69.88. The firm has a market capitalization of $8.88 billion, a P/E ratio of 24.44 and a beta of 1.05. The stock has a 50 day moving average price of $63.46 and a 200-day moving average price of $61.31. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.04 and a current ratio of 1.44.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.22). First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The firm had revenue of $194.94 million during the quarter, compared to analysts' expectations of $195.81 million. During the same quarter in the previous year, the business earned $0.76 EPS. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, equities research analysts anticipate that First Industrial Realty Trust, Inc. will post 3.16 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 3.0%. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 72.99%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FR. Weiss Ratings raised First Industrial Realty Trust from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, April 27th. Truist Financial raised their price target on First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Wells Fargo & Company cut their price target on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an "equal weight" rating on the stock in a report on Monday, June 1st. Robert W. Baird boosted their price objective on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of "Moderate Buy" and an average price target of $64.29.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc NYSE: FR is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants' supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.

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