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Public Sector Pension Investment Board Buys New Holdings in First Industrial Realty Trust, Inc. $FR

First Industrial Realty Trust logo with Finance background

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in First Industrial Realty Trust by 26.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust's stock valued at $536,000 after buying an additional 2,106 shares in the last quarter. GAMMA Investing LLC increased 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 in the last quarter. Summit Trail Advisors LLC increased 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 in the last quarter. SG Americas Securities LLC bought a new stake in First Industrial Realty Trust in the 1st quarter valued at about $481,000. Finally, ProShare Advisors LLC increased its position in First Industrial Realty Trust by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 6,192 shares of the real estate investment trust's stock valued at $310,000 after buying an additional 423 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $50.0150 on Thursday. First Industrial Realty Trust, Inc. has a twelve month low of $40.31 and a twelve month high of $58.17. The stock's 50 day moving average price is $49.12 and its 200-day moving average price is $50.66. The company has a market capitalization of $6.62 billion, a PE ratio of 24.40 and a beta of 1.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88.

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, topping analysts' consensus estimates of $0.72 by $0.04. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The firm had revenue of $180.16 million for the quarter, compared to the consensus estimate of $176.46 million. During the same quarter in the previous year, the business earned $0.66 EPS. The company's revenue was up 9.8% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, equities analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company 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. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 annualized dividend and a yield of 3.6%. First Industrial Realty Trust's dividend payout ratio is presently 86.83%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FR. Scotiabank boosted their price objective on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Royal Bank Of Canada decreased their price objective on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company decreased their price objective 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. Robert W. Baird decreased their price objective 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. Finally, JPMorgan Chase & Co. decreased their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, First Industrial Realty Trust has an average rating of "Hold" and a consensus target price of $55.10.

Check Out Our Latest Research Report on FR

About First Industrial Realty Trust

(Free Report)

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.

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Institutional Ownership by Quarter for First Industrial Realty Trust (NYSE:FR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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