Quantbot Technologies LP Invests $2.45 Million in First Industrial Realty Trust, Inc. $FR

Key Points

• Quantbot Technologies initiated a $2.45 million position in First Industrial Realty Trust during the second quarter, while institutional investors collectively own 99.85% of the company.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $67.07; several firms recently raised their targets to between $69 and $75.
• First Industrial reported quarterly EPS of $0.58, below the $0.80 consensus estimate, while revenue rose 8.2% year over year to $194.94 million. The REIT also declared a $0.50 quarterly dividend, yielding about 3.2% annually.

Quantbot Technologies LP bought a new position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 39,939 shares of the real estate investment trust's stock, valued at approximately $2,449,000.

A number of other large investors have also added to or reduced their stakes in FR. BlackRock Inc. bought a new position in First Industrial Realty Trust during the second quarter worth $1,021,489,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of First Industrial Realty Trust by 856,065.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust's stock valued at $560,443,000 after purchasing an additional 9,784,830 shares during the last quarter. Norges Bank bought a new position in shares of First Industrial Realty Trust in the fourth quarter valued at about $320,075,000. Invesco Ltd. lifted its stake in shares of First Industrial Realty Trust by 8.0% during the 3rd quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust's stock worth $223,571,000 after buying an additional 323,248 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in shares of First Industrial Realty Trust by 10.5% during the 4th quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust's stock worth $151,752,000 after buying an additional 252,650 shares during the period. Institutional investors own 99.85% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Barclays upped their price target on shares of First Industrial Realty Trust from $64.00 to $69.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. KeyCorp restated a "sector weight" rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. Cantor Fitzgerald restated a "neutral" rating and set a $71.00 price objective on shares of First Industrial Realty Trust in a report on Monday, July 27th. Royal Bank Of Canada upped their target price on First Industrial Realty Trust from $68.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Finally, Robert W. Baird increased their target price on First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of "Moderate Buy" and an average target price of $67.07.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $62.94 on Monday. First Industrial Realty Trust, Inc. has a 52 week low of $49.58 and a 52 week high of $69.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.44 and a current ratio of 1.44. The firm's 50-day simple moving average is $64.23 and its 200 day simple moving average is $62.12. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 22.97 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.22). First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The business had revenue of $194.94 million during the quarter, compared to the consensus estimate of $195.81 million. During the same period in the prior year, the firm earned $0.76 EPS. The business's revenue for the quarter 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, sell-side analysts predict that First Industrial Realty Trust, Inc. will post 3.17 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Wednesday, September 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, September 30th. First Industrial Realty Trust's payout ratio is 72.99%.

First Industrial Realty Trust Company 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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