NFJ Investment Group LLC Cuts Stock Position in First Industrial Realty Trust, Inc. $FR

Key Points

• NFJ Investment Group LLC reduced its stake in First Industrial Realty Trust by 13.2%, selling 18,245 shares to hold 119,809 shares valued at $6.5 million.
• Research firms have adjusted ratings on First Industrial Realty Trust, with Wall Street Zen upgrading it from "sell" to "hold," and Scotiabank raising its price target from $51 to $54.
• The company reported a 9.8% year-over-year revenue increase, achieving $180.16 million for the quarter, which exceeded consensus estimates, and has set FY 2025 EPS guidance between 2.880-2.960.

NFJ Investment Group LLC lowered its holdings in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 13.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,809 shares of the real estate investment trust's stock after selling 18,245 shares during the period. NFJ Investment Group LLC owned approximately 0.09% of First Industrial Realty Trust worth $6,465,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FR. Bessemer Group Inc. grew its stake in First Industrial Realty Trust by 93.0% during the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 225 shares during the period. Alpine Bank Wealth Management acquired a new stake in First Industrial Realty Trust during the first quarter worth approximately $26,000. Parallel Advisors LLC grew its stake in First Industrial Realty Trust by 285.1% during the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 821 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in First Industrial Realty Trust during the first quarter worth approximately $69,000. Finally, Fifth Third Bancorp grew its stake in First Industrial Realty Trust by 22.2% during the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 236 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

Shares of FR traded up $1.04 during mid-day trading on Thursday, hitting $52.13. The stock had a trading volume of 184,251 shares, compared to its average volume of 1,233,639. The firm has a market cap of $6.90 billion, a P/E ratio of 25.41 and a beta of 1.08. The business has a fifty day moving average price of $49.89 and a 200-day moving average price of $50.31. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. 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 announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. The company had revenue of $180.16 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, equities research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS 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. Stockholders of record on Tuesday, September 30th will be given a $0.445 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.4%. First Industrial Realty Trust's payout ratio is 86.83%.

Analysts Set New Price Targets

A number of brokerages have commented on FR. Mizuho raised their price objective on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday. Wells Fargo & Company reduced their price objective on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Wall Street Zen raised First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Scotiabank lifted their target price 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. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, First Industrial Realty Trust has an average rating of "Hold" and an average price target of $54.80.

First Industrial Realty Trust 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.