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

Several other large investors also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in First Industrial Realty Trust by 67.6% during the 4th quarter. First Trust Advisors LP now owns 70,487 shares of the real estate investment trust's stock valued at $3,534,000 after purchasing an additional 28,432 shares during the last quarter. Stifel Financial Corp lifted its position in shares of First Industrial Realty Trust by 0.9% during the 4th quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust's stock worth $1,309,000 after buying an additional 222 shares in the last quarter. Northern Trust Corp lifted its position in shares of First Industrial Realty Trust by 41.2% during the 4th quarter. Northern Trust Corp now owns 1,554,330 shares of the real estate investment trust's stock worth $77,919,000 after buying an additional 453,465 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of First Industrial Realty Trust by 25.3% during the 4th quarter. AQR Capital Management LLC now owns 109,648 shares of the real estate investment trust's stock worth $5,493,000 after buying an additional 22,142 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in shares of First Industrial Realty Trust during the 4th quarter worth approximately $523,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FR shares. Wall Street Zen raised shares of First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Scotiabank upped their price objective on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Finally, Wells Fargo & Company decreased their target price on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Four analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $54.67.

First Industrial Realty Trust Stock Performance

FR stock traded up $0.18 during midday trading on Friday, reaching $52.21. 1,122,442 shares of the company's stock traded hands, compared to its average volume of 799,521. The company has a 50-day moving average price of $49.72 and a two-hundred day moving average price of $50.40. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust, Inc. has a 52 week low of $40.31 and a 52 week high of $58.17. The firm has a market capitalization of $6.91 billion, a PE ratio of 25.47 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (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 business had revenue of $180.16 million for the quarter, compared to analysts' expectations of $176.46 million. During the same quarter in the previous year, the firm posted $0.66 EPS. The business's revenue for the quarter 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. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.4%. First Industrial Realty Trust's payout ratio is presently 86.83%.

First Industrial Realty Trust 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.