Nuveen LLC Invests $42.06 Million in First Industrial Realty Trust, Inc. $FR

Key Points

• Nuveen LLC has acquired a new position in First Industrial Realty Trust, purchasing 779,526 shares valued at approximately $42.06 million during the first quarter, representing about 0.59% of the company's stock.
• Various institutional investors, including Deutsche Bank and Artemis Investment Management, have also increased their stakes in First Industrial Realty Trust, indicating strong interest from hedge funds.
• First Industrial Realty Trust recently announced a quarterly dividend of $0.445 per share, which translates to a dividend yield of 3.6% with a payout ratio of 86.83%.

Nuveen LLC purchased a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 779,526 shares of the real estate investment trust's stock, valued at approximately $42,063,000. Nuveen LLC owned approximately 0.59% of First Industrial Realty Trust at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of First Industrial Realty Trust by 93.0% in the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock worth $25,000 after buying an additional 225 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in First Industrial Realty Trust in the 1st quarter valued at approximately $26,000. Parallel Advisors LLC raised its holdings in First Industrial Realty Trust by 285.1% in the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after acquiring an additional 821 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in First Industrial Realty Trust in the 1st quarter valued at approximately $69,000. Finally, Fifth Third Bancorp raised its holdings in First Industrial Realty Trust by 22.2% in the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 236 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Trading Down 1.0%

Shares of NYSE FR traded down $0.4840 during midday trading on Thursday, hitting $49.5260. The stock had a trading volume of 561,009 shares, compared to its average volume of 773,178. The company's 50-day simple moving average is $49.12 and its 200 day simple moving average is $50.64. The firm has a market cap of $6.56 billion, a P/E ratio of 24.16 and a beta of 1.04. 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 debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS 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 business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is 86.83%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Truist Financial cut their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. lowered their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Barclays lowered their price objective on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Finally, Robert W. Baird lowered their price objective on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of "Hold" and an average price target of $55.10.

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.