Northern Trust Corp Raises Stock Position in First Industrial Realty Trust, Inc. $FR

Key Points

• Northern Trust Corp increased its stake in First Industrial Realty Trust by 1.4%, owning approximately 1.19% of the company, valued at $85 million after acquiring 21,018 shares.
• Multiple institutional investors, including Vanguard Group and Invesco Ltd., also raised their positions during the 1st quarter, indicating strong institutional interest in the company.
• Analysts have adjusted their price targets for First Industrial Realty Trust, with Barclays lowering its target to $52 and others also revising down, while the stock currently has an average target price of $55.10.

Northern Trust Corp boosted its stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,575,348 shares of the real estate investment trust's stock after buying an additional 21,018 shares during the quarter. Northern Trust Corp owned 1.19% of First Industrial Realty Trust worth $85,006,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of First Industrial Realty Trust by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust's stock valued at $1,044,103,000 after purchasing an additional 158,692 shares during the last quarter. Invesco Ltd. grew its position in shares of First Industrial Realty Trust by 2.0% in the first quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust's stock valued at $235,489,000 after purchasing an additional 87,229 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of First Industrial Realty Trust by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,212,857 shares of the real estate investment trust's stock valued at $119,406,000 after purchasing an additional 6,977 shares during the last quarter. Deutsche Bank AG grew its position in shares of First Industrial Realty Trust by 56.1% in the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after purchasing an additional 675,306 shares during the last quarter. Finally, Rush Island Management LP grew its position in shares of First Industrial Realty Trust by 50.9% in the fourth quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust's stock valued at $82,240,000 after purchasing an additional 553,567 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Robert W. Baird lowered their price target on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. Barclays lowered their price target on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. Scotiabank increased their price target on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research report on Wednesday. Wall Street Zen upgraded shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Wells Fargo & Company decreased their target price 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 report on Monday, May 19th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of "Hold" and a consensus target price of $55.40.

First Industrial Realty Trust Trading Down 0.3%

Shares of FR traded down $0.17 during mid-day trading on Thursday, reaching $52.27. The company had a trading volume of 677,599 shares, compared to its average volume of 1,250,470. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 25.50 and a beta of 1.04. The firm has a fifty day simple moving average of $49.33 and a 200-day simple moving average of $50.56. First Industrial Realty Trust, Inc. has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88.

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 analysts' consensus estimates of $0.72 by $0.04. The company had revenue of $180.16 million for the quarter, compared to analyst estimates of $176.46 million. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. First Industrial Realty Trust's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, sell-side analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is 86.83%.

First Industrial Realty Trust Company 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.