Martingale Asset Management L P Buys New Position in First Industrial Realty Trust, Inc. $FR

Key Points

• Martingale Asset Management L P has made a new investment in First Industrial Realty Trust, acquiring 4,928 shares valued at approximately $266,000.
• The company recently announced a quarterly dividend of $0.445 per share, reflecting an annualized yield of 3.5% with a payout ratio of 86.83%.
• First Industrial Realty Trust reported earnings of $0.76 per share for the last quarter, exceeding analyst expectations of $0.72, along with a year-over-year revenue increase of 9.8%.

Martingale Asset Management L P bought a new stake in First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,928 shares of the real estate investment trust's stock, valued at approximately $266,000.

Other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its holdings in 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 valued at $25,000 after acquiring an additional 225 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in First Industrial Realty Trust in the first quarter valued at approximately $26,000. Parallel Advisors LLC boosted its holdings in First Industrial Realty Trust by 285.1% in the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 821 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in First Industrial Realty Trust in the first quarter valued at approximately $69,000. Finally, Fifth Third Bancorp boosted its holdings in First Industrial Realty Trust by 22.2% in the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 236 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $51.2940 on Tuesday. 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 twelve month low of $40.31 and a twelve month high of $58.17. The stock's 50 day moving average is $49.21 and its 200-day moving average is $50.55. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 25.02 and a beta of 1.04.

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 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 for the quarter, compared to analyst estimates of $176.46 million. During the same period in the prior year, the firm earned $0.66 earnings per share. First Industrial Realty Trust's revenue for the quarter was up 9.8% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Sell-side analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company 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 dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio is presently 86.83%.

Analyst Upgrades and Downgrades

FR has been the topic of several analyst reports. Royal Bank Of Canada reduced their target price on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Scotiabank increased their price target on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Truist Financial cut their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. cut their price target on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of "Hold" and an average price target of $55.10.

About First Industrial Realty Trust

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.

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