Magnetar Financial LLC Sells 19,135 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• Magnetar Financial LLC reduced its stake in First Industrial Realty Trust, Inc. by 35.5%, selling 19,135 shares to hold a total of 34,795 shares worth approximately $1.88 million.
• Institutional investors hold 99.85% of First Industrial Realty Trust's stock, with some notable changes this quarter, including Bessemer Group's holdings increasing by 93.0%.
• First Industrial Realty Trust reported $0.76 earnings per share for the last quarter, exceeding expectations, and has declared a quarterly dividend of $0.445 per share, effective October 20th.

Magnetar Financial LLC reduced its stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 35.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,795 shares of the real estate investment trust's stock after selling 19,135 shares during the period. Magnetar Financial LLC's holdings in First Industrial Realty Trust were worth $1,878,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of 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 worth $1,044,103,000 after acquiring an additional 158,692 shares during the last quarter. Invesco Ltd. boosted its position in shares of First Industrial Realty Trust by 2.0% during the first quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust's stock valued at $235,489,000 after buying an additional 87,229 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of First Industrial Realty Trust by 381.2% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust's stock valued at $111,708,000 after buying an additional 1,639,952 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of First Industrial Realty Trust by 56.1% during the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after buying an additional 675,306 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

FR traded up $0.59 on Wednesday, hitting $51.86. 670,863 shares of the company's stock traded hands, compared to its average volume of 1,243,015. The company's 50 day simple moving average is $49.53 and its 200-day simple moving average is $50.43. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 25.30 and a beta of 1.08. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. The company had revenue of $180.16 million for 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. As a group, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid 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 yield of 3.4%. First Industrial Realty Trust's payout ratio is presently 86.83%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen raised First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Wells Fargo & Company dropped their price objective on 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. Scotiabank increased their price objective on 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. Finally, Robert W. Baird dropped their price objective on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $55.40.

First Industrial Realty Trust Company 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.