First Industrial Realty Trust, Inc. $FR Position Boosted by Millennium Management LLC

Key Points

• Millennium Management LLC has significantly increased its stake in First Industrial Realty Trust by 159.5%, owning approximately 1.71% of the company's shares valued at $121.99 million.
• First Industrial Realty Trust recently appointed a dividend of $0.445 per share, which translates to an annualized yield of 3.4% and a payout ratio of 86.83%.
• Analyst ratings show a mixture of sentiment towards the stock, with four analysts granting a Buy rating and six assigning a Hold rating, alongside a revised average target price of $54.67.

Millennium Management LLC raised its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 159.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,260,701 shares of the real estate investment trust's stock after buying an additional 1,389,418 shares during the period. Millennium Management LLC owned about 1.71% of First Industrial Realty Trust worth $121,987,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. grew its position in shares of First Industrial Realty Trust by 1,012.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 412,299 shares of the real estate investment trust's stock worth $22,248,000 after acquiring an additional 375,230 shares during the last quarter. AQR Capital Management LLC increased its stake in First Industrial Realty Trust by 185.9% in the 1st quarter. AQR Capital Management LLC now owns 313,436 shares of the real estate investment trust's stock valued at $16,900,000 after purchasing an additional 203,788 shares in the last quarter. Amundi increased its stake in First Industrial Realty Trust by 1.5% in the 1st quarter. Amundi now owns 212,191 shares of the real estate investment trust's stock valued at $10,616,000 after purchasing an additional 3,080 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in First Industrial Realty Trust by 13.9% in the 1st quarter. Alyeska Investment Group L.P. now owns 671,077 shares of the real estate investment trust's stock valued at $36,211,000 after buying an additional 81,676 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in First Industrial Realty Trust by 83.5% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 390,639 shares of the real estate investment trust's stock valued at $21,079,000 after buying an additional 177,754 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on FR. Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Mizuho lifted their target price on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an "outperform" rating in a research note on Monday. Scotiabank lifted their target price on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Finally, Wells Fargo & Company cut their price target 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 note on Monday, May 19th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $54.80.

First Industrial Realty Trust Stock Up 2.0%

Shares of First Industrial Realty Trust stock traded up $1.04 on Thursday, hitting $52.13. 184,251 shares of the company's stock traded hands, compared to its average volume of 1,233,639. The stock has a market cap of $6.90 billion, a P/E ratio of 25.41 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. The firm's 50-day moving average is $49.89 and its 200 day moving average is $50.31. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, beating 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 business had revenue of $180.16 million during the quarter, compared to the consensus estimate of $176.46 million. During the same period in the previous year, the business earned $0.66 EPS. The business's quarterly revenue 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. Equities 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 business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.4%. First Industrial Realty Trust's dividend payout ratio (DPR) is 86.83%.

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.