NFJ Investment Group LLC Invests $10.72 Million in First Industrial Realty Trust, Inc. $FR

Key Points

• NFJ Investment Group acquired 174,814 shares of First Industrial Realty Trust worth approximately $10.72 million, representing a 0.13% stake. Institutional investors collectively own 99.85% of the REIT.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $67.07; Truist and Citigroup recently raised their targets, while Wells Fargo lowered its outlook.
• First Industrial reported quarterly revenue of $194.94 million, up 8.2% year over year, but earnings per share of $0.58 missed the $0.80 consensus estimate. The company also declared a quarterly dividend of $0.50, equal to a 3.2% annualized yield.

NFJ Investment Group LLC acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 174,814 shares of the real estate investment trust's stock, valued at approximately $10,718,000. NFJ Investment Group LLC owned 0.13% of First Industrial Realty Trust as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in FR. Measured Wealth Private Client Group LLC purchased a new position in First Industrial Realty Trust during the 3rd quarter valued at about $26,000. Parallel Advisors LLC lifted its holdings in shares of First Industrial Realty Trust by 86.9% in the fourth quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust's stock worth $36,000 after buying an additional 291 shares in the last quarter. Trust Co. of Vermont bought a new position in shares of First Industrial Realty Trust in the second quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd boosted its position in shares of First Industrial Realty Trust by 64.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 301 shares during the period. Finally, Danske Bank A S purchased a new position in First Industrial Realty Trust during the third quarter valued at approximately $51,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FR. Raymond James Financial reiterated a "strong-buy" rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. Truist Financial lifted their price target on First Industrial Realty Trust from $67.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Citigroup boosted their price objective on First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Wells Fargo & Company decreased their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Monday, June 1st. Finally, Scotiabank raised their target price on shares of First Industrial Realty Trust from $63.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $67.07.

First Industrial Realty Trust Stock Down 0.1%

Shares of NYSE:FR opened at $62.70 on Friday. First Industrial Realty Trust, Inc. has a 52-week low of $49.38 and a 52-week high of $69.88. The firm has a fifty day moving average of $64.24 and a 200 day moving average of $62.08. The firm has a market capitalization of $8.31 billion, a PE ratio of 22.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.44 and a current ratio of 1.44.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.22). First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The firm had revenue of $194.94 million for the quarter, compared to analysts' expectations of $195.81 million. During the same quarter in the previous year, the business earned $0.76 EPS. The company's revenue for the quarter was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, research analysts anticipate that First Industrial Realty Trust, Inc. will post 3.16 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Wednesday, September 30th will be given a $0.50 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. First Industrial Realty Trust's payout ratio is presently 72.99%.

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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