Pallas Capital Advisors LLC Takes $1.10 Million Position in First Industrial Realty Trust, Inc. $FR

Key Points

• Pallas Capital Advisors acquired 17,952 shares of First Industrial Realty Trust, valued at approximately $1.10 million. Institutional investors collectively own 99.85% of the REIT’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $67.07 target price. Several firms recently raised their targets, including RBC to $75 and Baird to $74.
• First Industrial reported quarterly revenue of $194.94 million, up 8.2% year over year, but EPS of $0.58 missed estimates. The company declared a $0.50 quarterly dividend, equal to a 3.2% annualized yield at the reported share price.

Pallas Capital Advisors LLC acquired a new stake in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,952 shares of the real estate investment trust's stock, valued at approximately $1,101,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its holdings in First Industrial Realty Trust by 2.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust's stock valued at $473,000 after purchasing an additional 163 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of First Industrial Realty Trust by 4.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust's stock worth $258,000 after purchasing an additional 183 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of First Industrial Realty Trust by 2.0% during the third quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust's stock worth $554,000 after buying an additional 211 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of First Industrial Realty Trust by 16.0% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the real estate investment trust's stock worth $101,000 after buying an additional 242 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of First Industrial Realty Trust by 1.8% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,870 shares of the real estate investment trust's stock valued at $852,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of First Industrial Realty Trust from $71.00 to $74.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $71.00 target price on shares of First Industrial Realty Trust in a research note on Monday, July 27th. Royal Bank Of Canada boosted their price target on First Industrial Realty Trust from $68.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Barclays increased their price target on First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. Finally, Citigroup raised their price objective on First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, First Industrial Realty Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.07.

First Industrial Realty Trust Trading Down 0.7%

NYSE FR opened at $62.47 on Wednesday. The company has a market cap of $8.28 billion, a P/E ratio of 22.80 and a beta of 1.04. First Industrial Realty Trust, Inc. has a 12 month low of $48.74 and a 12 month high of $69.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 1.44. The company has a 50-day moving average of $64.23 and a 200-day moving average of $62.02.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.22). First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The company had revenue of $194.94 million during the quarter, compared to analyst estimates of $195.81 million. During the same period in the prior year, the business posted $0.76 earnings per share. First Industrial Realty Trust's revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, equities analysts predict that First Industrial Realty Trust, Inc. will post 3.16 earnings per share 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 19th. Shareholders of record on Wednesday, September 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, September 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is 72.99%.

First Industrial Realty Trust Profile

First Industrial Realty Trust, Inc NYSE: FR is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants' supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.

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