M&T Bank Corp Makes New Investment in First Industrial Realty Trust, Inc. $FR

Key Points

• M&T Bank Corp established a new position of 40,927 shares in First Industrial Realty Trust (NYSE:FR) in Q4, worth about $2.34 million, while institutional investors and hedge funds now own roughly 99.85% of the stock.
• First Industrial missed Q4 EPS at $0.59 versus a $0.76 estimate but posted revenue of $188.41 million, and set FY2026 guidance of $3.09–$3.19 EPS (analysts average ~$3.17).
• The company raised its quarterly dividend to $0.50 (annualized $2.00, ~3.2% yield), and analysts collectively rate the stock a “Moderate Buy” with an average target price of $63.57 after several recent upward revisions.

M&T Bank Corp acquired a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 40,927 shares of the real estate investment trust's stock, valued at approximately $2,344,000.

Other hedge funds also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $26,000. Mather Group LLC. acquired a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $39,000. SJS Investment Consulting Inc. acquired a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $47,000. Danske Bank A S acquired a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $51,000. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at approximately $79,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FR has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price target on First Industrial Realty Trust from $64.00 to $66.00 and gave the company an "outperform" rating in a report on Monday, February 9th. Citigroup raised their price target on First Industrial Realty Trust from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Tuesday, February 10th. Truist Financial raised their price target on First Industrial Realty Trust from $65.00 to $66.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Robert W. Baird raised their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $65.00 price target on shares of First Industrial Realty Trust in a report on Monday. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $63.57.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $62.46 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.12 and a current ratio of 1.04. The stock has a fifty day moving average of $60.70 and a two-hundred day moving average of $58.48. The company has a market capitalization of $8.28 billion, a price-to-earnings ratio of 24.21 and a beta of 1.11. First Industrial Realty Trust, Inc. has a fifty-two week low of $46.51 and a fifty-two week high of $64.66.

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). The company had revenue of $188.41 million for the quarter, compared to analysts' expectations of $186.20 million. First Industrial Realty Trust had a return on equity of 12.36% and a net margin of 45.98%.The business's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. On average, analysts anticipate that First Industrial Realty Trust, Inc. will post 3.17 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Tuesday, March 31st were given a $0.50 dividend. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, March 31st. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 77.52%.

First Industrial Realty Trust Company Profile

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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