Public Sector Pension Investment Board Invests $2.05 Million in First Industrial Realty Trust, Inc. $FR

Key Points

• The Public Sector Pension Investment Board acquired 38,000 shares of First Industrial Realty Trust, amounting to approximately $2,050,000, indicating strong institutional interest in the real estate investment trust.
• First Industrial Realty Trust reported earnings per share of $0.76 for the quarter, exceeding analysts' expectations and showcasing a 9.8% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.445, set to be paid on October 20th, which reflects a 3.6% yield based on an annualized payout of $1.78.

Public Sector Pension Investment Board bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 38,000 shares of the real estate investment trust's stock, valued at approximately $2,050,000.

Several other hedge funds have also recently added to or reduced their stakes in FR. Wealth Enhancement Advisory Services LLC raised its holdings in First Industrial Realty Trust by 26.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust's stock worth $536,000 after purchasing an additional 2,106 shares in the last quarter. GAMMA Investing LLC grew its position in First Industrial Realty Trust by 55.4% in the 1st quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust's stock valued at $91,000 after buying an additional 599 shares during the last quarter. Summit Trail Advisors LLC grew its position in First Industrial Realty Trust by 155.1% in the 1st quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust's stock valued at $583,000 after buying an additional 6,516 shares during the last quarter. SG Americas Securities LLC acquired a new stake in First Industrial Realty Trust in the first quarter valued at $481,000. Finally, ProShare Advisors LLC lifted its holdings in First Industrial Realty Trust by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 6,192 shares of the real estate investment trust's stock valued at $310,000 after acquiring an additional 423 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FR shares. Scotiabank lifted their price target on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Wells Fargo & Company lowered their price target on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Truist Financial decreased their target price 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. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Robert W. Baird decreased their price target on First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, First Industrial Realty Trust has a consensus rating of "Hold" and a consensus price target of $55.10.

First Industrial Realty Trust Price Performance

FR stock traded down $0.09 during trading hours on Tuesday, hitting $51.19. 656,440 shares of the stock traded hands, compared to its average volume of 728,037. The stock has a 50-day simple moving average of $49.26 and a 200 day simple moving average of $50.55. First Industrial Realty Trust, Inc. has a one year low of $40.31 and a one year high of $58.17. The company has a market cap of $6.78 billion, a P/E ratio of 24.97 and a beta of 1.04. 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 posted its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. The firm had revenue of $180.16 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. Equities analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 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.