Pallas Capital Advisors LLC Purchases Shares of 24,020 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 acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,020 shares of the real estate investment trust's stock, valued at approximately $1,156,000.

Other large investors have also recently modified their holdings of the company. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at approximately $262,000. Delphi Management Inc. MA bought a new stake in First Industrial Realty Trust during the 2nd quarter valued at $1,220,000. Kera Capital Partners Inc. lifted its position in shares of First Industrial Realty Trust by 38.4% during the second quarter. Kera Capital Partners Inc. now owns 5,750 shares of the real estate investment trust's stock worth $277,000 after acquiring an additional 1,596 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of First Industrial Realty Trust by 4.3% in the first quarter. Voya Investment Management LLC now owns 257,054 shares of the real estate investment trust's stock worth $13,871,000 after acquiring an additional 10,518 shares during the period. Finally, Nicola Wealth Management LTD. bought a new position in shares of First Industrial Realty Trust in the first quarter worth $843,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

Shares of NYSE FR traded up $0.37 during midday trading on Monday, hitting $52.08. 620,417 shares of the company's stock were exchanged, compared to its average volume of 898,809. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88. The business's fifty day moving average price is $50.38 and its two-hundred day moving average price is $49.94. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 25.41 and a beta of 1.08. First Industrial Realty Trust, Inc. has a 12-month low of $40.31 and a 12-month high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its 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 business had revenue of $180.16 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. As a group, research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FR. Wall Street Zen raised First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Scotiabank upped their price target 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. Finally, Mizuho increased their price target on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an "outperform" rating in a report on Monday, September 8th. Five equities 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, the company presently has an average 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.