Pallas Capital Advisors LLC Makes New $1.16 Million Investment in First Industrial Realty Trust, Inc. $FR

Key Points

• Pallas Capital Advisors LLC has acquired 24,020 shares of First Industrial Realty Trust, valued at approximately $1.156 million, marking a significant investment during the second quarter.
• First Industrial Realty Trust reported a quarterly earnings of $0.76 per share, exceeding analyst expectations of $0.72, along with a revenue of $180.16 million.
• The company also announced a quarterly dividend of $0.445 per share, representing an annual yield of 3.4%, to be paid on October 20th.

Pallas Capital Advisors LLC purchased a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 24,020 shares of the real estate investment trust's stock, valued at approximately $1,156,000.

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

First Industrial Realty Trust Stock Down 1.2%

Shares of NYSE:FR traded down $0.65 on Friday, hitting $51.69. 1,282,582 shares of the company's stock were exchanged, compared to its average volume of 880,157. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust, Inc. has a 1-year low of $40.31 and a 1-year high of $58.17. The company has a market capitalization of $6.84 billion, a PE ratio of 25.21 and a beta of 1.08. The firm's 50-day moving average is $50.33 and its 200 day moving average is $50.03.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.04. The firm had revenue of $180.16 million for 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 revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Sell-side analysts predict 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. Investors of record on Tuesday, September 30th will be given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, September 30th. First Industrial Realty Trust's payout ratio is 86.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Mizuho increased their target price on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a report on Monday, September 8th. Finally, Scotiabank increased their target price on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $54.80.

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.