London Co. of Virginia Sells 25,729 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• London Co. of Virginia trimmed its stake by 2.7%, selling 25,729 shares and now holds 942,403 shares (about 0.71%) of First Industrial, worth roughly $48.5 million; institutional investors collectively own 99.85% of the stock.
• First Industrial raised its quarterly dividend to $0.50 (annualized $2.00) for a yield of 3.3%, with an ex‑dividend date of March 31 and a payout ratio near 95.7%.
• The company missed Q results with EPS of $0.59 versus $0.76 expected (revenue $188.4M, +7.3% YoY), set FY2026 guidance of $3.090–$3.190, and carries an analyst consensus of "Moderate Buy" with an average target of $63.29.

London Co. of Virginia decreased its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 2.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 942,403 shares of the real estate investment trust's stock after selling 25,729 shares during the quarter. London Co. of Virginia owned approximately 0.71% of First Industrial Realty Trust worth $48,506,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in First Industrial Realty Trust by 41.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust's stock worth $45,301,000 after buying an additional 244,562 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of First Industrial Realty Trust by 4.0% in the second quarter. ProShare Advisors LLC now owns 5,870 shares of the real estate investment trust's stock valued at $283,000 after acquiring an additional 228 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of First Industrial Realty Trust by 4.1% in the second quarter. PNC Financial Services Group Inc. now owns 8,419 shares of the real estate investment trust's stock worth $405,000 after acquiring an additional 328 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of First Industrial Realty Trust by 3.6% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 49,191 shares of the real estate investment trust's stock worth $2,368,000 after acquiring an additional 1,724 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of First Industrial Realty Trust by 1.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,479 shares of the real estate investment trust's stock worth $3,633,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

Insider Buying and Selling at First Industrial Realty Trust

In related news, CIO Johannson L. Yap sold 680 shares of the business's stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total value of $39,691.60. Following the sale, the executive owned 3,770 shares in the company, valued at approximately $220,054.90. The trade was a 15.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.94% of the company's stock.

Analyst Upgrades and Downgrades

FR has been the subject of several research analyst reports. Robert W. Baird set a $65.00 target price on First Industrial Realty Trust in a research report on Tuesday, February 17th. Cantor Fitzgerald upped their price target on First Industrial Realty Trust from $58.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday, February 6th. iA Financial set a $67.00 price objective on shares of First Industrial Realty Trust in a report on Monday, January 5th. Mizuho lifted their price objective on shares of First Industrial Realty Trust from $56.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of First Industrial Realty Trust from a "hold" rating to a "buy" rating and set a $67.00 target price on the stock in a report on Monday, January 5th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $63.29.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $61.04 on Tuesday. The business's 50-day moving average is $59.78 and its 200 day moving average is $56.64. First Industrial Realty Trust, Inc. has a 12 month low of $40.31 and a 12 month high of $64.01. The company has a market capitalization of $8.09 billion, a P/E ratio of 32.81 and a beta of 1.11. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). First Industrial Realty Trust had a net margin of 34.03% and a return on equity of 9.02%. The firm had revenue of $188.41 million for the quarter, compared to analysts' expectations of $186.20 million. During the same quarter in the prior year, the business earned $0.71 EPS. The business's quarterly revenue was up 7.3% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. On average, equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Tuesday, March 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, March 31st. First Industrial Realty Trust's payout ratio is 95.70%.

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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