Quarry LP Acquires 6,467 Shares of First Industrial Realty Trust, Inc. $FR

Key Points

• Quarry LP significantly increased its stake in First Industrial Realty Trust, Inc. by 376.6%, totaling 8,184 shares valued at $442,000 as of its latest SEC filing.
• Several brokerages have issued updated ratings and price targets for First Industrial Realty Trust, with the consensus target price currently set at $55.40.
• The company recently announced a quarterly dividend of $0.445 per share, implying an annualized yield of 3.4%, with a dividend payout ratio of 86.83%.

Quarry LP grew its position in shares of First Industrial Realty Trust, Inc. (NYSE:FR - Free Report) by 376.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,184 shares of the real estate investment trust's stock after acquiring an additional 6,467 shares during the period. Quarry LP's holdings in First Industrial Realty Trust were worth $442,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Baird Financial Group Inc. raised its stake in shares of First Industrial Realty Trust by 8.3% during the first quarter. Baird Financial Group Inc. now owns 53,425 shares of the real estate investment trust's stock valued at $2,883,000 after acquiring an additional 4,094 shares during the last quarter. Evergreen Capital Management LLC raised its stake in First Industrial Realty Trust by 36.7% in the first quarter. Evergreen Capital Management LLC now owns 6,834 shares of the real estate investment trust's stock worth $372,000 after buying an additional 1,833 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in First Industrial Realty Trust by 11.3% in the first quarter. The Manufacturers Life Insurance Company now owns 1,055,991 shares of the real estate investment trust's stock worth $56,981,000 after buying an additional 106,806 shares in the last quarter. HGI Capital Management LLC raised its stake in First Industrial Realty Trust by 237.9% in the first quarter. HGI Capital Management LLC now owns 123,928 shares of the real estate investment trust's stock worth $6,687,000 after buying an additional 87,248 shares in the last quarter. Finally, Landscape Capital Management L.L.C. raised its stake in First Industrial Realty Trust by 24.5% in the first quarter. Landscape Capital Management L.L.C. now owns 35,976 shares of the real estate investment trust's stock worth $1,941,000 after buying an additional 7,089 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Up 0.3%

Shares of NYSE:FR traded up $0.18 during trading on Thursday, reaching $52.04. 1,576,162 shares of the stock traded hands, compared to its average volume of 1,244,997. The stock has a 50-day moving average of $49.59 and a two-hundred day moving average of $50.44. First Industrial Realty Trust, Inc. has a 52-week low of $40.31 and a 52-week high of $58.17. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $6.89 billion, a P/E ratio of 25.38 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.04. First Industrial Realty Trust had a net margin of 38.70% and a return on equity of 9.92%. The firm had revenue of $180.16 million for the quarter, compared to analysts' expectations of $176.46 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. As a group, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FR shares. Scotiabank increased their price target on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 27th. Wells Fargo & Company decreased their price target on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, First Industrial Realty Trust has a consensus rating of "Hold" and an average price target of $55.40.

About First Industrial Realty Trust

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.